{"id":29973,"date":"2026-05-19T18:59:18","date_gmt":"2026-05-19T22:59:18","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=29973"},"modified":"2026-05-19T18:59:18","modified_gmt":"2026-05-19T22:59:18","slug":"president-ali-calls-on-transport-operators-to-help-cushion-fuel-price-impact","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/president-ali-calls-on-transport-operators-to-help-cushion-fuel-price-impact\/","title":{"rendered":"\u00a0President Ali calls on transport operators to help cushion fuel price impact"},"content":{"rendered":"
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President Dr. Irfaan Ali has called on transport operators and fuel suppliers to act responsibly and absorb part of the impact of rising global fuel prices, as part of a collaborative effort to shield citizens from international market shocks.<\/p>\n\n\n\n

In an address to the nation on Tuesday, the Head of State said Guyana, like many countries, is facing mounting pressure from the ongoing crisis in the Middle East, which has driven up energy costs, international shipping rates and the price of refined petroleum products.<\/p>\n\n\n\n

President Ali noted that while Guyana is a major crude oil producer, it remains dependent on imported refined fuel because it does not yet have domestic refining capacity.<\/p>\n\n\n\n

He reminded that the Government had previously removed excise taxes on imported fuel, a move he said has cost the treasury more than $100 billion annually but helped shield consumers from severe price increases seen elsewhere.<\/p>\n\n\n\n

\u201cThe Government absorbed that cost to keep prices below international increases that we have seen at pump stations across the world,\u201d <\/strong>he stated.<\/p>\n\n\n

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President Dr. Mohamed Irfaan Ali <\/figcaption><\/figure>\n<\/div>\n\n\n

According to President Ali, the tax adjustment translated into savings of approximately $500 per gallon of gasoline or diesel for consumers.<\/p>\n\n\n\n

He explained that for minibus operators consuming an average of 12 gallons of fuel daily, this amounted to roughly $6,000 in daily savings.<\/p>\n\n\n\n

\u201cWhen we had a reduction in the cost of fuel at the pump, we did not see a corresponding reduction in fares charged by anyone,\u201d<\/em><\/strong> he pointed out.<\/p>\n\n\n\n

“We have made it far easier to own vehicles. We have adjusted taxes.\u00a0Outboard motor engines, we have adjusted. We have removed duty on those. So when countries are faced with international challenges like this, it requires action from both the private sector and the public sector.\u00a0As a government, we have demonstrated the full policy tool that is available to us,”<\/em><\/strong> he said. <\/p>\n\n\n\n

The president further stated, \u201cWe expect that all of the operators will reduce their profit lines so as to mitigate that impact and also for the suppliers of public transportation to be socially responsible during this period<\/strong>.”<\/em><\/p>\n\n\n\n

President Ali noted that since March 2026, additional interventions have been made to subsidise diesel and gasoline by reducing profitability margins within the supply chain to maintain market balance.<\/p>\n\n\n\n

He said the administration is also examining long-term solutions to improve fuel security and reduce future vulnerability to international disruptions.<\/p>\n\n\n\n

Among these measures is investment in port infrastructure to accommodate larger fuel vessels, reducing shipping costs associated with the current reliance on smaller transshipment vessels.<\/p>\n\n\n\n

\u201cWe are looking at that challenge to see how we can dredge the river and invest in infrastructure that will allow larger vessels to come in,\u201d <\/em><\/strong>the President explained.<\/p>\n\n\n\n

The Government is also actively engaging potential investors for the establishment of a refinery in Guyana.<\/p>\n\n\n\n

President Ali said while global conditions remain uncertain, the Government will continue exploring every available option to protect consumers and strengthen Guyana\u2019s energy resilience.<\/p>\n","protected":false},"excerpt":{"rendered":"

President Dr. Irfaan Ali has called on transport operators and fuel suppliers to act responsibly and absorb part of the impact of rising global fuel prices, as part of a…<\/p>\n","protected":false},"author":1,"featured_media":29976,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,350,428],"tags":[488,912,370,412,405,431,1019],"class_list":["post-29973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-news","category-oil-gas","tag-488","tag-fuel","tag-guyana","tag-ncn-guyana","tag-ncn-news","tag-oil-and-gas","tag-transport"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/29973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=29973"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/29973\/revisions"}],"predecessor-version":[{"id":29977,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/29973\/revisions\/29977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/29976"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=29973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=29973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=29973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}