Gas prices up $4.50, diesel up $4.50: New pump prices effective Thursday
By OurJa News Desk | Sources linked below
Gas prices up $4.50 and diesel up $4.50 per litre effective Thursday. The Jamaica Observer reports the increase, impacting motorists and transport costs. Here is what we know.
Motorists will pay $4.50 more per litre for both gasoline and diesel starting Thursday, according to a report from the Jamaica Observer.
What Happened
The Jamaica Observer reported on Wednesday that the state-owned oil refinery, Petrojam, has announced a $4.50 increase in the ex-refinery price of both 87-octane gasoline and automotive diesel fuel. The new prices take effect from Thursday morning.
The report did not specify the exact new retail prices, as those vary by dealer and location, but the increase applies to the base price before marketing and distribution margins are added.
This is the first fuel price adjustment in several weeks and comes amid fluctuations in global crude oil prices, which have been trending upward.
What This Means for Jamaicans
The $4.50 per litre increase will raise the cost of filling a typical 40-litre tank by $180 for both petrol and diesel vehicles. For public transport operators and businesses that rely on diesel-powered trucks and equipment, the increase will add to operating costs, which are often passed on to consumers through higher fares and goods prices.
The hike is likely to push up transportation costs across the island, affecting commuters and the cost of food and other essentials.
What to Watch Next
- The next scheduled price announcement from Petrojam, expected in two weeks, to see if the trend continues.
- Any response from the Ministry of Science, Energy and Technology or the Consumer Affairs Commission regarding price monitoring.
- Impact on bus and taxi fares, as the Transport Authority may consider adjustments.
Source: Jamaica Observer