Public transportation operators are being urged to exercise restraint and social responsibility in setting fares, as the Government moves to shield citizens from the impact of rising global fuel prices.
Senior Minister within the Office of the President with Responsibility for Finance, Dr Ashni Singh, made the appeal while addressing recent developments in international oil markets, which have pushed up fuel costs worldwide.
He noted that although Guyana is a crude oil-producing nation, it continues to import refined fuel on the open market and is therefore exposed to global price fluctuations.
Against this backdrop, he said the government has already implemented several measures to cushion citizens from the impact of rising fuel prices.
These include the removal of excise tax on fuel and the absorption of increased costs for key public utilities such as Guyana Power and Light Inc. (GPL) and Guyana Water Inc. (GWI), ensuring that electricity tariffs remain stable despite external pressures.
However, Minister Singh emphasised that the role of public transportation operators is also critical in maintaining affordability for ordinary citizens who rely on daily transport services.
He pointed out that when fuel prices previously declined following the removal of excise tax, public transportation fares largely remained unchanged.
“In that context, we expect that good conscience will prevail and that we will not witness exorbitant increases in public transportation fares,” the minister said.
The government has also called on operators to recognise existing measures to reduce costs.
Dr Singh said that while domestic fuel prices had risen in line with global trends, hikes at the gas pump had been significantly moderated by government policy.
He added that the administration remained committed to protecting citizens from external economic shocks and urged transport operators to help maintain stable fare structures.