(www.stabroeknews.com)

GuyOil commissioned its $250M flagship service station on Regent Street yesterday after 10 months of construction.

The state-owned corporation’s Managing Director, Badrie Persaud announced that the station has a 20,000-gallon underground gasoline storage capacity as well as 10,000 gallons for diesel and an additional 5,000 gallons available for kerosene.

He highlighted that the renovation of the service station was to elevate the entire structure by more than a foot off street level which would ensure that flooding would not pose such a danger. He noted that the eight-month construction deadline which began last April was extended due to the inclement weather, however GuyOil was very pleased with the work done.

He said that the reconstruction of the flagship location was showcasing GuyOil’s commitment to consumers and developmental growth. The company’s managing director noted that GuyOil’s fuel reductions earlier last week was just one way the public company was looking to ensure competiveness with its private sector counterparts.

Finance Minister Dr Ashni Singh lauded the contributions of the state company noting that GuyOil represented a competitive edge for a public company. He said that while the face of Regent Street continued to change, calling the area the commercial district of the country, GuyOil was showcasing a refreshing mentality in growth and development.

Singh noted that the Regent Street location generated more business than any other petrol station across the country. He said that as the demographics of the area changed and modernity crept in it was not just technological change that was imperative but to ensure that world class customer service needed to follow suit.

On Monday of last week, the finance minister had announced that GuyOil would be drastically reducing the cost of fuel by 30 percent for gasoline and diesel and by 40 percent for kerosene following the global drop in prices.