March 2012


MOTORISTS will have to fork out even more cash when they go to the pumps this week as gas prices have increased yet again.

The prices of 87 and 90 gasoline have risen by $1.10 and will be sold for $105.94 and $107.59 per litre respectively.

Propane Liquid Petroleum gas has increased by 44 cents and will be sold for $44.17 per litre.

However, the price of Automotive Diesel Oil has dropped by 73 cents and will now be sold for $105.76 per litre.

Kerosene and Butane Liquid Petroleum have also experienced price decreases of 73 cents and 41 cents respectively and will be sold for $108.69 and $60.14 per litre.

Retailers will add their own mark up

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Rodney Davis, chief financial officer of Cool Petroleum. - File

Shell gas operator, Cool Petroleum is pumping US$2 million (J$175 million) into capacity upgrade of its Rockfort Kingston facility but denies those plans include construction of a refinery despite getting state approval for such a facility.

The upgrade will allow Shell, with one of the largest



A Texaco gas station - File.

Gasolene prices will go up by $1.10 this week.

Effective tomorrow, it will cost $105.94 to buy a litre of E-10 87 gasolene while E-10 90 gasolene will be sold for $107.59 per litre.

In the meantime, the prices of other products have been cut.

The price of automotive diesel oil will move down by $0.73 to sell for $105.76 per litre.

A litre of kerosene oil has been cut by $0.65 and will be sold for $108.69.

A litre of butane has been reduced by $0.41 and will sell for $60.14.

However, the price of propane cooking gas has gone up by $0.44 with a litre to be sold for $44.17.

Retailers will add their mark-ups to the announced prices.





THE Government is to get a US$995,000 ($86.6 million) dividend payment from Jamaica Public Service Company (JPS) in two weeks.

The light and power company notified the Jamaica Stock Exchange (JSE) that its board approved a final ordinary dividend payment of US$5 million payable on April 16, 2012.

The Government, through the Accountant General



Rising gasolene prices have become a campaign issue in America, as speculation about tensions in the Middle East has exerted pressure on oil prices.

Contenders for the Republican Party nominee are promising to cut America’s dependence on foreign oil, exploiting the emotional response of United States (US) consumers to the threat of high fuel prices.

Meantime, Jamaican consumers are feeling the effects of the jump in gasolene prices and the fuel charge on electricity bills.

The possibility that high gasolene prices could become a threat to President Barack Obama’s re-election campaign is felt to have influenced what was rumoured to be a possible release of oil from the strategic petroleum reserve by the US and United Kingdom (UK). These rumours followed reports that in their recent meeting, President Obama and UK Prime Minister David Cameron had agreed to a release of oil in the summer. Putting additional oil on to the market would, presumably, halt or slow down the uptick in prices.

Since January, oil prices have jumped more than 15 per cent, and it is feared that further increases will choke



Energy Minister Phillip Paulwell says PETCOM has been removed off the list of entities to be divested.



LIKE so many of us, I have deep concerns for the preservation of our environment. For how we can balance all the elements to ensure that our basic needs are met – food, shelter, clean drinking water, fresh air. I want it all. But what to do when it appears that the two ideals – protection of the land and advancement of the people, are at odds? Where do we go from there? It doesn’t help if both sides are intractable. “My way is the only way.” There are some things for which compromise is ruled out even before the dialogue begins. We know that there are hard choices to be made, but can we make them for mutual benefit?

An ugly little spat has sprung up between the government and leading environmentalists over the announced intention to permit the use of so-called “clean coal” in bauxite-processing operations. Environmentalists responded immediately and sharply to the announcement




FORMER MINISTER of Finance Audley Shaw said on Wedsnesday that being absent from government has allowed him the opportunity to engage in deeper thinking.

Shaw made the comment while making his contribution to a debate on the third supplementary estimates in the House of Representatives.

“I am not going to be intimidated at the fact that only a few months ago I was a minister,” Shaw said as he suggested that the