Gas prices increase by $4 tomorrow

Come tomorrow, motorists will pay $4.35 more for E10 87 petroleum and $4.37 more for E10 90, while diesel fuel will go up by $4.50.

According to the latest prices from Petrojam, 87-octane gasoline will be sold for $191.33 per litre after an increase of $4.35 and 90-octane gasoline will be sold for $196.35 per litre after an increase of $4.37.

Automotive diesel fuel will be sold for $196.95 per litre up by $4.50, while ultra-low sulphur diesel is also up by $4.50 and will be sold for $201.44 per litre.

Kerosene also increased by $4.50 and will be sold for $171.56 per litre.

Propane liquid petroleum will be sold for $81.86 per litre, up by $3.06 and butane liquid petroleum will be sold for $92.80 per litre after an increase of $3.06.

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

In a statement today, Petrojam said there were mixed movements in the prices of petroleum products this week.  Oil prices rose as supply concerns arising from the Russia/Ukraine war and storm damage to the Caspian Pipeline Consortium Black Sea's facility continued to impact the market.

Middle Eastern geopolitics also affected the market, as the Houthi rebels attacked Saudi oil assets, which also contributed to supply constraints.

Petrojam also said the devaluation of the Jamaican dollar against the US dollar also drove prices upwards.

“Later in the pricing week, oil prices fell as China initiated the largest COVID-19 lockdown in two years. Reports of progress in peace talks between Russia and Ukraine also led to downward movement in prices,” said the state-run refinery.

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