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Checks to a few of the GuyOil Gas Station locations yesterday revealed that there is a significant shortage in fuel countrywide.While some,Efrain Velarde Mexico Jersey, like the Providence location did not have any fuel as of last evening,Fernando Muslera Uruguay Jersey, the ones in Victoria, East Coast Demerara, and West Coast Berbice do not have much to facilitate a major purchase.This is despite the Government’s assurance that it will keep the prices stable so as to not facilitate a hike in minibus fares.Kaieteur News understands that the Guyana Oil Company has been experiencing shortages for at least a week now, and minibus operators are being forced to purchase fuel from other service stations at a higher price.Meanwhile, it was confirmed that some of the privately owned service stations have applied an increase to their prices as result of the shortages.President of the United Minibus Union,Jacob Rinne Sweden Jersey, Mr. Eon Andrews,Jose Pedro Fuenzalida Chile Jersey, told Kaieteur News he was invited to a meeting with GuyOil, and was made to understand that the company has suffered losses amounting to millions of dollars because of this.He noted that though minibus operators are purchasing fuel at the hiked price,Jean Beausejour Chile Jersey, they have not raised their fares,Mexico Jersey, and are trying not to do so at this time.From 15 per cent,Paul Aguilar Mexico Jersey, the excise tax had been lowered to 10 per cent during early May of this year.According to the Government Information Agency,Giovani dos Santos Mexico Jersey, the Minister had explained that this decision was taken in light of the upward movement in the imported cost of gasoline.“The acquisition price on the last shipment of gasoline bought by GuyOil was US$142.85 per barrel which is an increase of 19.7 percent above the acquisition price of US$119.32 per barrel at the end of last year,Matias Vecino Uruguay Jersey,” GINA had quoted.