Shell and Esso drop gas prices
Well the good news continues to pour in for motorists with those gas prices. The SOL oil company has reduced its prices. Gasoline prices have been reduced by $200 at the Esso and Shell service stations. The SOL move comes exactly one week after government announced price reductions at the Guyoil stations.
Last week an executive at Sol told this newscast that the company would have reduced its prices after assessing the situation. The assessment may have been done over the weekend as the company brought in over 55,000 barrels of fuel to meet demand. The executive said too that he was worried about the financial impact of the reductions since higher taxes were being applied to the new fuel shipments.
Public transportation operators are said to be pleased with the Sol move. At the weekend Guyoil fuel pumps ran empty forcing the closure of several Guyoil stations across the country. the stations were back up and running on Monday offering fuel at the $777 price. Shell and Esso have their prices just a little higher at $780.
The price for crude oil on the world market began tumbling a few months ago forcing the reductions of refined fuel in several markets.