In light of the increase in gas price, Vice President Dr. Bharrat Jagdeo says “there isn’t anything else we can do at this stage.” This comment came after the Vice President was asked whether the Government would be implementing any measures to cushion the impact of this increase.
The Government had recently reduced the excise tax on fuel and the Vice President explained “that’s the only thing the Government use to collect in terms of revenue and there is zero revenue. We don’t collect taxes now from fuel.”
This is the second time this month that GUYOIL has increased the price for fuel. The cost of gas today stood at $254 per litre- an increase of $18. This increase is attributed to Russia’s invasion of Ukraine.