Pain at the pumps
March surge drives fuel prices up 20 per cent
KINGSTON, Jamaica –A burst of weekly increases in March pushed fuel prices in Jamaica up by as much as 20 per cent since the start of the year, as conflict in the Middle East pushes global oil prices higher.
The increase came in a series of weekly adjustments — roughly $4.50 at a time — during March, hitting motorists at the pumps and leaving businesses with a sharp jump in costs within weeks.
E10-87 gasolene rose from $148.87 on December 28 to $172.38 by April 2, an increase of about 15.8 per cent. E10-90 gasolene followed a similar path, climbing from $155.49 to $179.83, up 15.7 per cent.
Auto diesel advanced from $159.43 to $184.75, a rise of roughly 15.9 per cent, while ultra-low sulphur diesel (ULSD) moved from $165.71 to $191.60, gaining 15.6 per cent.
Kerosene recorded the largest increase, rising from $145.58 to $174.15, a jump of approximately 19.6 per cent over the period.
The pattern intensified in March.
E10-87 gasolene rose by $4.50 on March 5, followed by another $4.50 on March 12, $4.50 on March 19, and $4.50 on March 26, before a further increase of $3.10 on April 2.
That amounts to an increase of just over $21 within five weeks.
Similar increases were recorded across E10-90 gasolene, auto diesel and ULSD, with most adjustments falling within the $4 to $5 range.
“Global oil prices continue to experience significant volatility and upward pressure, driven primarily by ongoing tensions in the Middle East,” Petrojam said in its March 26, 2026 pricing notice.
In a subsequent update dated April 1, 2026, the refinery said continued tensions in the region have kept oil prices above seasonal averages, prompting further increases in transport fuels.
Petrojam said earlier, in a March 5, 2026 press release, that movements in its key pricing benchmark — US Gulf Coast reference prices — reflected the impact of the conflict, with potential increases in transportation fuels ranging from $8.45 to $12.66 per litre, although not all of this was immediately passed through to local prices.
The Bank of Jamaica warned on March 31 that a prolonged conflict and further increases in energy prices could push inflation in Jamaica, as it held its policy rate at 5.5 per cent.
The central bank said crude oil prices rose sharply in March, with West Texas Intermediate increasing by 39.5 per cent month-to-date, and noted that inflation, which stood at 3.9 per cent in February, is expected to trend upward and could move above the 4 to 6 per cent target range during 2026.
