MOTORISTS will experience lower prices at the gas pump for a fourth straight week.

Derrick Thompson, president of the Jamaica Gasolene Retailers Association, says the country is riding the tide of lower global prices.

“Oil has gone down significantly worldwide so we are benefiting from that,” he said.

According to prices from state-run Petrojam Limited, gasolene — both 87 and 90 — will see a decline of a $1.25 per litre and will be sold for $112.98 and $114.63 per litre, respectively.

Diesel will be sold for $116.49 per litre having been reduced by $2.02 per litre while the newly introduced Ultra-Low Sulphur Diesel fuel saw a reduction of $2.07 per litre and will be sold for $120.63. The prices became effective yesterday and dealers will add their respective markup.

According to the JGRA head, the challenge is keeping the Jamaican dollar from devaluing.

“We use US dollars to purchase fuel, therefore, any devaluing of the Jamaican dollar will have a direct effect on the cost of the fuel.”

— Brian Bonitto