$4.50 increase in gas prices

Motorists will pay at least $4.50 more in prices for gas tomorrow with a litre of 87-octane gasoline to go for $215.89 and 90-octane be sold for $$220.91 per litre. 

Automotive diesel oil will climb by $4.50 to be sold for $218.51 per litre. Ultra Low Sulphur Diesel will also move up $4.50 to sell for $221.25 per litre.

Kerosene will also fall by $4.50 to sell for $192.80 per litre.

Propane cooking gas will see an increase of $1.35 to sell for $76.94 per litre. Butane will move down by 68 cents per litre to sell for $85.47 per litre.

Marketing companies and retailers will add their mark-up to these prices.

Petrojam said today that the key contributors to the rise in prices are due to: 

-An announcement of price increase by Saudi Arabia and doubts about OPEC's ability to increase production fuelled supply concerns amidst the expected loss of Russian oil to the market.

-Demand factors also pushed prices upwards. Despite high prices, USA oil demand remains robust as the summer driving season commences and China's demand for fuel is expected to increase as the Covid-19 lockdowns are reversed.

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