KINGSTON, Jamaica – Petrol prices have been declining at pumps nation-wide, but the majority of the prices “have not been falling in line with Petrojam’s price reduction,” according to the results of a just-released National Petrol Price Survey by the Consumer Affairs Commission (CAC).

“The mark-ups gained by the retailers and their marketing companies continue to be higher than the national average”, the CAC said.

Between December 23 and January 14, the average pump price for 87 fell by 5.41 per cent and for 90 by 5.01 per cent, the report stated.

The survey said that no petrol station in Hanover or St James had reduced the cost of 87 during the period of the survey.

The Executive Summary of the Consumer Affairs Commission’s report is carried below:

During the period January 13-14, the gasoline prices at 188 of 204 outlets (92%) were observed. The prices were compared to those observed during the December 22-23, 2014 Petrol Survey. The price movements for each product were compared to the ex-refinery price movement from Petrojam.

The average pump price for E10 87 (J$110.97/litre) and E10 90 (J$118.02/litre) fell by approximately J$6.35/litre (5.41%) and J$6.22/litre (5.01%) – falling approximately J$0.14 and J$0.01 respectively more than the Petrojam announcement for both products did.

The average3 pump price of Auto Diesel (J$115.01/litre) decreased by 4.03% (J$4.83/litre) – J$0.32 more than the average state refinery’s billing price announcements.

Ultra Low Sulphur Diesel (ULSD) also experienced a 4.02% (J$5.10/litre) decrease in prices at the pump, selling for an average3 price of J$121.76/litre- J$0.69 more than Petrojam’s price change.

Between 11% and 42% of the stations observed in all parishes reduced the price of E10-87 in line with Petrojam’s reduction, J$6.21/litre. The exceptions were Kingston and Portland in which 70% and 50% of outlets respectively reduced prices in line with Petrojam.

Between 12% and 33% of the stations observed in most parishes reduced their E10-90 price in line with Petrojam, J$6.21/litre. Portland and Hanover were the exceptions, as 100% and 75% of outlets respectively reduced prices in line with Petrojam.

Between 14% and 44% of stations observed in most parishes reduced their Auto Diesel price in line with Petrojam, J$4.51/litre. The exceptions were Portland and St. Catherine in which 50% and 56% of outlets respectively reduced prices in line with Petrojam.

Only 7 ULSD retailers in St. Andrew reduced prices of the product in line with Petrojam; none other observed in any other parish did similarly.

Some 28% (51) of the stations observed dropped their E10-87 prices J$6.21/litre or more, while only 26% (47) of these stations did the same for E10-90.

Similarly, 38% (68) of these stations decreased their Auto diesel prices J$4.51/litre or more.

Of the 23 comparable stations observed by the CAC that normally sell ULSD, 7 stations (30%) dropped their prices J$4.41/litre or more.

The results show that retail prices have continued to fall. However, the majority of these prices have not been falling in line with Petrojam’s price reduction. Additionally, the mark-ups gained by the retailers and their marketing companies continue to be higher than the national average.