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Govt announces reduction in fuel from today

first_imgAs of today, there will be a reduction in prices for gas at the pumps, as the Caribbean Community’s (Caricom) approval of the suspension of the Common External Tariff (CET) has led to a reduction in overall cost.This announcement was made on Sunday through a joint statement from the Finance Ministry and the Guyana Oil Company (GuyOil). The reduction will apply to wholesale and retail gas prices.“Starting February 4, 2019, Super 95 Gasoline will be wholesaled at $208.00 per litre or 27.44 per cent less, and Gasoil (LSD) at $207.00 per litre or 15.85 per cent less,” the statement said.“Simultaneously, retail customers will pay $218.00 per litre for Super 95 GasolineThe Guyana Oil Companyor 30.77 per cent less and $217.00 per litre for Gasoil (LSD) or 19.72 per cent less. These significant reductions are attributed to a decline in acquisition costs.”The statement reminded that Government had approached Caricom for the suspension of the Common External Tariff after the closure of Petroleum Trinidad (Petrotrin). Petrotrin was previously Guyana’s main fuel supplier.“Caricom’s subsequent approval would have also led to a reduction in acquisition costs. The Government, through The Guyana Oil Company, is therefore proud to cause these reductions to the benefit of all consumers.”The parliamentary Opposition has long called on Government, through GuyOil, to intervene in reducing gas prices. At a previous press conference, Opposition Leader Bharrat Jagdeo had said that there is fiscal space to make the adjustment with the tax regime to allow a reduction of gas prices for local consumers.Jagdeo had related that under the People’s Progressive Party/Civic (PPP/C) Government, there was a system used in cases like these, where the taxes can be adjusted based on the movement up or down of the gas price so that the benefits would be passed onto the people.Given the mounting criticisms and the need for serious attention to be paid to the issue, the PPP/C General Secretary had said that “The Government through public pressure must adjust the rate at the pump. They have a lot of room. They have the fiscal space as well as the tax play to make that adjustment.”The former Guyanese Head of State had recalled when the prices for crude oil stood at about US$75 per barrel, lower than the US$120 high, before the rapid tumble a few years ago to about US$28.“We had argued that with the rapid tumble, the benefits should have been passed on to the Guyanese public, who would have seen lower prices at the pump and in their electricity bill. They never did that. And what happened was that they raked in billions in revenue; they collected over $25 billion at GPL alone.”He had told the media that with the crude prices at about US$75 a barrel and not US$120, there was definitely room to make significant adjustments to the price of fuel at the pump.Another point that has previously been raised by Jagdeo was the fact that under the PPP/C Government, GuyOil was used as a regulatory agency whereby the prices at the State-owned entity set precedence for other companies to follow.last_img read more

SantAgata Bolognese – Reported by Elite Traveler

first_imgSant’Agata Bolognese – Reported by Elite Traveler, the Private Jet Lifestyle MagazineEven more dynamic, lighter, more powerful and stunning – the Lamborghini Gallardo LP 570-4 Superleggera is the new top model in the Gallardo line-up. Its evocative “superlight” badge refers to a driving machine of true sporting character and describes a high-performance and lean automotive athlete. The Superleggera makes its entrance to continue the success of its predecessor, launched in 2007, of which Lamborghini produced and sold no less than 618 in just one year.Compared with the already lean Gallardo LP 560-4, the weight of the Gallardo Superleggera has been trimmed by 70 kilograms (154 lb). The super sportscar from Sant’Agata Bolognese boasts a dry weight of no more than 1340 kilograms (2954 lb) – the lightest road-going model in Lamborghini’s range, and a new arrival in one of the most exclusive market niche segments.One key factor is the exterior and interior components made from carbon-fiber. Carbon-fiber is ideal for the manufacture of sportscars as its use allows for weight reduction and improved mechanical features. The car’s performance is thus enhanced thanks to a better weight-to-power ratio and reduced total mass, which means that CO2 emissions are also lower. Lamborghini has been at the forefront in this material’s application for many years, and now the brand is extending its leadership even further.The V10 power unit with 5.2 liters (317,6 cu in) of displacement generates 419 kW (570 CV*) in the Gallardo Superleggera. This puts the weight-to-power ratio of the new top model at only 2.35 kilograms (5.18 lb) per CV and guarantees breathtaking performance. The Gallardo LP 570-4 Superleggera handles the dash from zero to 100 km/h (0-62 mph) in 3.4 seconds and flies past the 200 km/h (124 mph) mark only 10.2 seconds later, ultimately reaching 325 km/h (202 mph). The engine with “Iniezione Diretta Stratificata” gasoline direct injection also boasts an impressive degree of efficiency. Its fuel consumption and CO2 emissions have been reduced by 20,5 percent compared to the previous model.The Gallardo Superleggera is an uncompromising driving machine. Its running gear, with its mighty braking system, has a dedicated and exceptionally precise set-up, while its 19-inch wheels, Pirelli P Zero Corsa, clad in Pirelli sports rubber, are extremely light. The Lamborghini Gallardo LP 570-4 Superleggera brings a whole new meaning to the term “super sportscar”.The Gallardo LP 570-4 Superleggera comes with the e-gear transmission operated via steering wheel paddles, as standard. The automated system with electronic management shifts through its six gears extremely smoothly and far more quickly than could be achieved by human reflexes.The e-gear control unit has three operating modes, two of which available in automatic. The “Thrust mode” delivers maximum off-the-line performance and is programmed to manage starting revs of around 5000 rpm with minimal wheel slip.www.lamborghini.comlast_img read more