Georgetown : Minister of the State Joseph Harmon, today disclosed that Government is monitoring the price of gas, for a possible further reduction. This was disclosed during his post-Cabinet media briefing at Ministry of the Presidency.
Harmon noted that it may take a little while for costs to actually come down. “You purchase fuel and then you have a stock of fuel which might have been purchased at an old price. I believe that once there is restocking taking place and there is any benefit from that, at least a part of that benefit will be passed onto the consumers,” he said.
Minister of Finance Winston Jordan recently announced a reduction in gas and diesel prices. With effect from August 20, 2015, diesel price was reduced from $174.77 to $168, while gasoline saw a reduction of $11, taking it to $199 per liter.
Government hopes that the reduced fuel process would benefit the entire population but, more especially school children. It is hoped that public transportation providers pass on the savings to their passengers
