State-owned refinery Petrojam is reducing baseline fuel costs this week, a move that now aligns its commodity index with prices not seen in nearly four months.

In its closely watched petroleum product price index, Petrojam slashed 87-octane gasolene by J$2.94, which will be offered at J$156.61 per litre effective midnight Thursday (October 8).

The latest pricing update marks a reversal of higher costs over the past week and is the lowest since June 12.

Meanwhile, price cuts were most pronounced for 90-octane gasolene, automotive diesel and its ultra-low sulphur diesel counterpart, kerosene oil, which dipped J$3.06, respectively.

Retailers are expected to place their own markups on the introductory prices.

See breakdown of prices below: