Dear Editor,
We learn that over the last month, the price for crude oil on the international market has seen continuous decreases, hitting a five-year low of US$54.73 a barrel on the New York Mercantile Exchange.
Before the steady decline which commenced in June, the price for oil was steady at the US$115-$120 range which means that the price for oil has plunged more than 50 per cent in recent months.
With that in mind we wonder and ponder if this much publicized decline in oil price would influence the price of goods and service here too.
I am sure that merchants here who are aware of this should also reflect this decline in oil prices for their goods and services.
Especially the mini bus owners and conductors I have in mind, should also drop their fares to reflect this welcome decline of the cost of petrol. Transportation fares had been hiked to a noticeable 20 percent increase recently.
This news should be a breath of fresh air for Guyanese specially housewives.
Yours faithfully,
Rooplall Dudhnath
