KINGSTON, Jamaica — The Jamaica Gasolene Retailers Association JGRA) says it has requested an urgent meeting with Finance Minister Audley Shaw to discuss the new tax on fuel announced last week in his contribution to the 2017/2018 budget debate.

“We feel that this tax will not enhance growth in our economy and is onerous on the Jamaican motorist and people because the additional taxes will raise the working capital required by retailers to do business,” the JGRA said in a news release this afternoon, adding that “increased fuel prices will reduce sales volumes, business, and profitability for all gas stations.”

The JGRA outlined that this additional fuel tax will be passed on to consumers and will affect motorists directly and non-motorists through the distribution chain, transportation costs, and Jamaica Public Service bills.

It added that one of their “major trading partner groups, taxi operators, have had to suffer through high gas prices and now they have a break with lower prices they should be allowed to benefit from lower fuel prices which will allow them to retool and profit from their business.”

“We feel that a meeting with the minister and all stakeholders, especially the JGRA, is imperative to look at what the impact of this new tax measure will bring.  If progress and growth is the objective of this government, then, there should be a freeze on this new tax measure until we have had discussions,” the JGRA release insisted.