The government has announced a further reduction in the prices for gas and diesel being sold at all the state-owned Guyoil gas stations across the country.
Finance Minister Winston Jordan announced today that with effect from Friday October 16, gas prices will be reduced and will be sold retail for $190 per litre, while diesel will now be sold for $161 per litre.
Jordan was at the time being quizzed on the implementation of measures laid out in his 2015 budget.
In August the Minister announced an initial reduction in the prices. At that time, gasoline was reduced to $199 per litre while diesel was reduced to $168 per litre.
Speaking on the performance of the economy, five months after the elections of the APNU+AFC government, Jordan said it was performing in accordance with his 2015 budget.
“To date there are still some issues as it relates to rice, sugar is doing slightly better than budgeted which is good news… on the production side, I don’t know about financial wise,” he added. On the other major revenue earners, the Finance Minister said gold is “holding its own” while bauxite “has been a bit flat, but so has the economy of the world,” he added.
The Finance Minister recently returned from Peru where he attended a World Bank meeting. He said “there it was also disclosed that this is probably the worst slowdown in recent times for the global economy.” He explained that there are signs that it may start to rebound but insisted that there was a slowdown coupled with falling commodity prices. “And that is reflected in what we are seeing with gold, even rice.”
He said the government will remain committed to “keeping the economy in shape.”