Pump prices tumble amid new Petrojam commodity index update
/ Our Today
administrator
Jamaican industry and the motoring public will enjoy some savings this week, as State-owned refinery, Petrojam, unveiled sweeping reductions on baseline prices at the pumps.
Effective midnight (February 29), Petrojam advised that 87-octane gasolene will cost J1.20 less, opening at a baseline price of $166.37 per litre, before applied taxes.
The price cuts were consistent across the refinery’s closely watched petroleum product price index—and were most pronounced for kerosene oil, automotive diesel and its ultra-low sulphur counterpart, which fell J$4.50, $3.50 and $3.06 respectively.
Contrastingly, asphalt and heavy fuel oil (HFO) prices rose marginally by 14 and 96 cents each.
Owing to continued volatility in the global petroleum market, baseline prices have held steady over the last 12 months except for propane and butane cooking gas, which rose higher than February 2023.
It is expected retailers will add their respective mark-ups to the announced prices.
See breakdown of prices below:
| Product | Price per unit (effective February 29, 2024) | Price change (from last week) |
| Gasolene 87 | $165.17 | -$1.20 ($166.37) |
| Gasolene 90 | $171.27 | -$1.20 ($172.47) |
| Auto diesel | $176.65 | -$3.50 ($180.15) |
| Kerosene | $179.74 | -$4.50 ($184.24) |
| Propane | $75.44 | -$2.50 ($77.94) |
| Butane | $84.93 | -$3.00 ($87.93) |
| ULSD | $183.09 | -$3.06 ($186.15) |
| HFO | $119.91 | +$0.96 ($118.95) |
| Asphalt | $127.77 | +$0.14 ($127.63) |
Comments