The motoring public and industry giants are collectively breathing a sigh of relief as State-owned refinery, Petrojam, unveiled sweeping cuts to its pricing regimen today (August 10).
Petrojam, in its latest petroleum product index, advised that the base price for 87-octane gasolene has been further reduced by J$4.50, now closing at J$209.36, effective tomorrow.
The cost cuts were consistent for all major items on Petrojam’s index, but less steep for kerosene and ultra low-sulphur diesel (ULSD), which are both priced $0.25 lower.
It marks a savings total of J$6.53 for Jamaican motorists over the last nine weeks at the pumps, following a wave of anaemic price cuts by Petrojam up to August 4. The refinery’s last increase was in June 2022.
It is expected, however, that retailers may add their mark-ups to the announced prices.
See breakdown of prices below:
|Product||Price per unit (Effective August 11, 2022)||Price change (from last week)|
|Gasolene 87||$209.36||-$4.50 ($213.86)|
|Gasolene 90||$214.38||-$4.50 ($218.88)|
|Auto diesel||$224.76||-$4.50 ($229.26)|