Asphalt prices soar over 1100% higher after latest Petrojam update
/ Our Today
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Workmen lay asphalt at a section of the Lagoon View Walk roadway in St James in October 2020. (Photo: JIS)
State-owned refinery, Petrojam, is advising of a more than 1100% increase in the baseline price of asphalt, even as Jamaican motorists and business interests pay incrementally more at the pumps this week.
Petrojam, in its closely watched petroleum product price index, unveiled asphalt would sell $1,001.31 higher than last week to open at an introductory cost of J$1,113.99.
The new price update takes effect on Thursday, June 1.
Price increases were consistent only for 87- and 90-octane gasolene as most products on Petrojam’s index enjoyed mixed reductions; most pronounced for kerosene oil, automotive diesel and its ultra-low sulphur counterpart.
It is expected that retailers will add their mark-ups to the announced prices.
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