KINGSTON, Jamaica —The Opposition People’s National Party (PNP) has expressed “deep concern and dismay” at the increase in the ex-refinery price of gasolene to $3.50 per litre, announced by Petrojam this week.

Petrojam, in justifying the increase said that it resulted from a rise in the prices of petroleum products in the Gulf States, attributed to the impact of Hurricane Harvey and the temporary closure of some refineries.

But the PNP argued that the hurricane in the US should not immediately affect the cost of oil to the Jamaican market.

According to Spokesman on Energy, Phillip Paulwell, “While we continue to support the import parity formula of pricing our ex-refinery products, we believe that strict adherence to this during periods of temporary market disturbance or emergency is foolhardy and will be unnecessarily burdensome to our people.”

“The fact is that our refinery continues to process its products from crude oil at a very low price of below US$50 per barrel, which will not change much during the hurricane season. However, as a result of our mindless adherence to the import parity formula, consumers in many parts of the country are now having to be pay over J$150 per litre for regular fuel, on the heels of an already arduous back-to-school outlay. “

Paulwell said the gas price increase is seemingly designed to create super profits for the state-run Petrojam refinery, without consideration for the consequence of the additional cost to businesses which will subsequently affect the country’s ability to achieve its growth target.