Gas prices up $4.50, diesel up $4.50

Motorists will pay more for gas when they go to the pumps on Thursday.

The state-owned oil refinery, Petrojam, says E-10 87 is to move up by $4.50 to sell for $198.14 per litre and a litre of E-10 90 will go up by $4.50 to sell for $203.15.

Automotive diesel oil will move up by $4.50 per litre to sell for $211.70.

Ultra low sulphur diesel will sell for $214.43 per litre following an increase of $4.50.

The price of Kerosene will go up by $4.50 to sell for $184.55.

In the meantime, propane cooking gas will go down by $0.25 to sell for $79.75, while butane will move up by $0.25 to sell for $91.17 per litre.

Retailers will add their mark-ups to the announced prices.

Petrojam says the rise in prices over the past week was due primarily to the high cost of crude oil.

It stated that although there were mixed movements in the oil market, on average oil prices climbed higher on fears of supply disruptions following the European Union's proposed ban on Russian crude oil imports.

According to the refinery, this has outweighed any price reductions from the demand concerns prompted by the impact of COVID-19 on China's economy.

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