Mohamed urges Govt. to swap Guyana’s oil for refined fuel as prices soar

(Kaieteur News) – Opposition Leader, Azruddin Mohamed is urging the government to explore swapping the country’s crude oil for refined fuels like diesel and gasoline as prices soar on the international market in light of ongoing tensions in the Middle East.

In an interview with Kaieteur News, Mohamed highlighted the significant jump in fuel prices since the beginning of this year, pointing to the fact that this increase is directly affecting families across the country. The opposition leader was keen to note that Guyana is producing approximately 900,000 barrels of oil per day (bpd) yet the population remains exposed to vulnerable fuel prices that is driving inflation as admitted by President Irfaan Ali.

According to him, “Guyanese families are paying more at the pump while the country produces about 900,000 barrels of oil a day. That is not bad luck; it is bad planning. We have no refinery, and no strategic fuel reserve, so every global price shock lands on working people.”