Dear Editor,
I would like to point out that the last price I saw for crude oil on the world market was below US$59 a barrel, which is around 60 per cent lower than it was in July. While Barbados and a few other Caribbean countries have reduced the price of gasoline on three occasions, the Government of Guyana has only made one reduction of $209.00 per gallon.
With this scenario in mind, the first thing that government wants to see happen is a drop in bus fares. However, we cannot examine that issue in isolation. The cost of spares, tyres, oil, filters, brakes, etc, skyrocketed when the gas price went up. Granted, a bus owner will not change these things every week, but whenever he has to do so, the cost is high. So when calling for a reduction in bus fares, a corresponding call should be made for a reduction in the price of spares, etc, and by extension, food prices. Not because the government can fix the bus fares should they rush to force the operators to do so. Other associated costs must be taken into account.
Vehicular spares and accessories are imported by traders; they place a mark-up to obtain a huge profit, and when the auto-spares shop purchases these items they place another mark-up on each item. These costs are passed on to the bus owners who then pass them on to the consumers. The mechanics have also raised their labour charges.
The way forward is to have some suggested prices for parts that frequently have to be replaced so that everyone can benefit.
Yours faithfully,
Deen
