Gas prices up - Petrojam blames 'Texas freeze', dollar devaluationWednesday, February 24, 2021
KINGSTON, Jamaica - Petrojam says severe and sustained winter storms in Texas, USA have forced the full or partial closure of several refineries and the inability of ships to operate, leading to an “extraordinary” increase in US Gulf Coast Reference prices.
“This has resulted in a significant reduction of finished products to the market,” Petrojam said today, in explaining the increase, which takes effect tomorrow.
“The supply disruption has triggered an extraordinary increase of 12 per cent in the US Gulf Coast Reference price per barrel, which is the main input in determining Petrojam's ex-refinery price. This situation, coupled with the devaluation of the Jamaican dollar, has led to increases in the refinery billing prices effective Thursday, February 25. Petrojam continues to monitor the situation in the US Gulf Coast.”
The breakdown of prices is as follows:
87 Gasoline - Up $4.50/L to sell at $130.12
90 Gasoline - Up $4.50/L to sell at $132.95
Auto diesel - Up $3.06/L to sell at $125.89
Ultra low sulphur diesel - Up $3.06/L to sell at $132.50
Kerosene - Up $3.06/L to sell at $102.93
LPG Propane - Up $3.06/L to sell at $58.97
LPG Butane - Up $2.97/L to sell at $55.90.
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