Barbados cuts petrol tax while Guyana’s tax goes up

In her 2022 Budget presentation, Prime Minister of Barbados Hon. Mia Mottley announced that Barbados will cut its tax on petrol by 14 cents and thus reduce the price of Gas and Diesel to the customer. This news comes as much needed relief to people struggling to meet inflated fuel prices.

Meanwhile, the tax Guyanese pay per tank of gas goes up as the price of petrol goes up. Guyana currently charges a 10% tax on fuel purchases. For example, if fuel is priced at $110 then you are paying $10 in tax; while fuel priced at $220 would mean you are paying $20 in tax. The tax burden goes up as fuel price goes up.

Many have called on the installed regime to take steps that would reduce the cost of fuel, but so far the regime has taken no steps to that effect. Many now call on the government of Guyana to follow the lead of Barbados and, at a minimum, not have taxes go up with the price of fuel.

More, In The Ring.