Jamaican motorists and business interests enjoy a continued reprieve for the third week running, as state-owned refinery Petrojam again announces sustained cuts in its baseline prices.
Petrojam, in its closely watched petroleum product price index, advised that 87-octane gasoline will sell for $2.40 (or roughly eight per cent) less effective today (May 4), closing at J$166.08 per litre.
On its current trajectory, pump prices nationwide could tumble to levels not seen this year since updates on January 5 and January 19.
Meanwhile, Thursday’s price cuts are consistent for most products on Petrojam’s index, with the biggest single drops recorded for butane, kerosene, automotive diesel and its ultra-low sulphur counterpart—all falling by $4.50 respectively.
It is expected that retailers will add their mark-ups to the announced prices.
See breakdown of prices below:
|Product||Price per unit (effective May 4, 2023)||Price change (from last week)|
|Gasolene 87||$166.08||-$2.40 ($168.48)|
|Gasolene 90||$169.58||-$2.50 ($172.48)|
|Auto diesel||$174.12||-$4.50 ($178.62)|