With its prices already lower than its competitors, the state-owned Guyoil has approved a reduction in the prices for gas and diesel at its stations.
News Source understands that the reduction will take effect from Wednesday.
Sources close to the company have indicated that gas prices will now go to $226 per litre while the price for diesel will be reduced to $215 per litre. In both cases, the prices are being reduced by $4 per litre.
There have been concerns about the rising price for fuel over the past few weeks and calls have been made on the government to reduce taxes to allow reductions.
The Government has said that it is closely looking at the matter, but has not made any definite decision to ensure prices are further reduced.