Guyana’s Ali Presses Transport Operators To Hold Fares As Fuel Costs Climb

President Mohamed Irfaan Ali is urging Guyana’s public transport operators and other service businesses not to impose sharp price increases on the travelling public, as international fuel costs continue to move under the weight of geopolitical tensions and problems along overseas supply routes.

In a statement issued Tuesday, Ali said Guyana’s status as a significant crude producer does not insulate the country from outside price swings, since the economy still relies heavily on refined petroleum brought in from abroad. He said the administration has already used major public resources to ease the burden on consumers, among them the decision to cut excise tax on imported refined fuel products to zero.

“You would recall that the Government of Guyana removed the excise tax on imported refined products to zero,” Ali said. He added that the measure has left consumers with more than $100 billion in savings each year.

Ali said the tax policy has lowered the cost of diesel and gasoline by about $500 per gallon. He pointed to minibus operators, taxi drivers, truck owners, farmers and other fuel-dependent enterprises as among those receiving a direct benefit from the relief.

Using Georgetown minibuses as an example, the president said operators burning more than 12 gallons of fuel each day would be keeping roughly $6,000 daily because of the present arrangement.

Even with that level of support, Ali said there has not been much proof that transport prices came down during earlier periods when fuel was cheaper. He called on operators to act with greater regard for the public during the current market instability.

“We expect that all of the operators will reduce their profit lines so as to mitigate that impact,” he said.

Since March 2026, the government has also been underwriting fuel costs, including by adjusting the profitability of the state-owned fuel company GUYOIL, as part of its effort to keep local prices steady.

Ali said the latest strain on the fuel market is not being caused by a lack of product, but by shipping and logistics problems that are affecting the movement of petroleum internationally.

He also pointed to longer-range measures meant to make Guyana less exposed to foreign disruptions. Those include improving port facilities, dredging the Demerara River so larger vessels can enter, and encouraging investment in a refinery inside Guyana.

According to Ali, those projects are intended to strengthen the country’s energy security, reduce freight expenses and support more durable price stability. He said his government will continue using available policy measures to protect citizens from global economic shocks while developing a sturdier energy and transport framework.