The price of fuel has seen an abrupt increase in the recent past and there is no indication of it coming down, at least not any time soon. This increase is already hitting hard especially among low income earners who are now forced to fork out more from their meagre income.
The government has a duty and a responsibility, both fiscal and moral, to intervene in the stabilisation of the fuel price as was done under the previous PPP/C administration. The price of fuel is an important component of the overall cost of living and cannot be left on market forces to determine.
I urge the Ministry of Finance to put in place a mechanism that would serve to cushion the impact of increases in the price of fuel rather than its apparent indifference to the plight of the ordinary consumer. The state-owned Guyana Oil Company should be the first to reduce prices to previous levels even if it means having to forego accustomed profit margins. Alternatively, or in addition to, the government can use some of the oil and gas bonus to subsidise the cost of fuel until such time that prices are restored to normalcy.
It is time for the government to end its deafening silence on this issue and come up with strategies to alleviate the hardships experienced by the working class.