Fuel Costs Move Higher Amid Middle East Conflict Market Reaction
Motorists across Jamaica will see higher fuel costs at the pumps beginning today as prices move upward again this week amid global market reactions to the conflict in the Middle East.
Information released by state-owned refinery Petrojam indicates that five petroleum products have increased by $4.50 per litre.
Included among the fuels affected are E-10 87 gasoline, E-10 90 gasoline, Automotive Diesel Oil, Ultra-Low Sulphur Diesel, and Kerosene.
Liquefied petroleum gas used for cooking has also increased, with both Propane and Butane LPG rising by $3.60 per litre.
Petrojam explained that the latest adjustments follow movements in United States Gulf Coast reference prices during the week.
Based on those market indicators, transportation fuel prices reflected increases ranging from $13.64 to $38.31 per litre.
According to the refinery, its pricing mechanism helped soften the effect of those higher international reference prices.
Final retail prices will ultimately depend on the additional margins applied by dealers and marketing companies.
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