Petrol prices record their biggest jump in a single week today as Petrojam announces higher prices for all products supplied by the refinery.

Both E10 87 and E10 90 will increase by $3.06 per litre. Those increases take the ex-refinery prices to the highest ever of $162.25 per litre and $167.70 per litre, respectively. Both are up 47 per cent since the start of the year.

Automotive Diesel Oil (ADO) will see an increase of $3.03 to sell for $156.96 per litre, while ultra low sulphur diesel (ULSD) will see an increase of $3.03 per litre to sell for $164.21 per litre.

Meanwhile, the price of kerosene will also increase by $3.06 per litre to sell for $137.48 per litre. Propane (Liquid Petroleum Gas) will move upward by $0.98 per litre to sell for $71.29 per litre, while Butane (Liquid Petroleum Gas) will increase by $0.25 to sell for $80.78.

Petrojam said the key contributor to the rise in fuel prices this week is waning fears of a global slowdown by the COVID-19 Omicron variant. This has helped to restore market confidence and has helped to push prices upwards.

Marketing companies will add their mark up to the announced prices.