Motorists queue up at the Beechwood Avenue service station of fuel and energy company Fesco Jamaica. (Photo: Google.com | Future Energy Source Company)
Jamaican motorists and industry interests face steeper costs at the pumps for the Independence weekend, as State-owned refinery, Petrojam, unveiled changes to its baseline pricing regimen.
In its closely watched petroleum product price index, Petrojam slapped J$1.62 on 87-octane gasolene prices, which opened at J$161.00 per litre, effective midnight Thursday (August 7).
While the price increase was consistent for commonly sought 87- and 90-octane fuels, associated costs are expected to fall marginally for automotive diesel and its ultra-low-sulphur counterpart, which both fell J$2.94 and J$2.54, respectively, this week.
It is expected that retailers will add their respective mark-ups to the announced prices.
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