Gas prices drop 25 cents per litre
PETROJAM has announced a reduction in ex-refinery petrol prices, effective yesterday, recording the first drop in gasoline prices in three weeks.
Both octane 87 and octane 90 fuel are down 25 cents per litre, while diesel is reduced 53 cents per litre.
Gasoline prices have seen a steep upward trend in prices since December last year despite another marginal drop of 25 cents per litre on December 16.
Both 90 and 87 octane fuel jumped $1.02 per litre on December 3. Then on December 9 the fuel types again climbed. This time by a further $1.97 per litre pushing price at the pumps above $100 per litre in sections of
the island.
Last week, 87 and 90 jumped $1.68 per litre forcing projections of $120 per litre gasoline in short order from Jamaica Gasoline Retailers Association head Trevor Heaven.
The price increases are driven primarily by the rise in international oil prices which is hovering at just above US$90 per barrel.
