PETROL prices have been declining at pumps nationwide, 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.

“By January 8, 2015, the ex-refinery price for all products experienced price reductions between four and six per cent”, the report said.

The refinery billing price (point to point) for both 87 ($91.93 per litre) and 90 ($93.59 per litre) had drecreased by $6.21, representing decreases of about six per cent each. By January 13 to 14 the pump prices for all products had also decreased, but with dollar values slightly higher than Petrojam’s price reductions, the report said.

The average pump price for 87 ($110.97 per litre) and 90 ($118.02 per litre) was $0.32 more than the average state refinery’s billing price announcements, the report said. The survey said that no petrol station in Hanover or St James had reduced the cost of 87 during the period of the survey.