Gas Prices Continue To Soar – Up $4.50!
Today (February 25) marks the 12th consecutive week of rising gas prices across Jamaica.
A litre of 87 and 90 gasoline will sell for an additional $4.50.
Prices at the pumps have risen to their highest figures in about 18 months.
Automotive and Ultra Low Sulphur Diesel as well as Kerosene and Propane have each increased by $3.06.
Butane will cost $2.97 more.
Jamaica’s oil refinery, Petrojam, has issued a statement regarding the rising prices in recent times.
Petrojam says severe and sustained winter storms in Texas have forced the full or partial closure of several refineries and the inability of ships to operate.
This, according to the company has resulted in a major reduction of finished products to the market.
Additionally, the supply disruption has triggered an extraordinary increase of 12 percent in the US Gulf Coast Reference price per barrel, which is the main input in determining Petrojam’s ex-refinery price.
Petrojam said this situation, coupled with the devaluation of the Jamaican dollar, has resulted in increases in the refinery billing prices which take effect today.
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