Do not panic, says Golding

PM assures public that Gov't is seeking cheaper fuel source

Prime Minister Bruce Golding is urging consumers not to panic in the face of mounting energy cost and has given a commitment to aggressively pursue discussions to find cheaper sources of oil in advance of the conversion of Jamaica's energy source to liquefied natural gas (LNG).

Golding said he has held discussions with professionals who are of the opinion that Jamaica could source cheaper oil if the sourcing was done on a more competitive basis.

The prime minister said this is a sensitive and complex issue that would have to be discussed with the relevant parties.

"This is something I want to examine. I am not making a decision on it, but I have to discuss it with ministers (James) Robertson and (Audley) Shaw. Until the LNG comes into play, is there something that we can do to ensure that we can buy the oil cheaper. Because if we can save one dollar a barrel on the price of oil, then that is one dollar less that will be passed through to you each month," the PM said.

He said he is urging the Office of Utilities Regulation to maintain utmost vigilance and scrutiny to ensure that consumers do not bear more than the actual cost that is required.