Oil prices continue to inch up following the last-minute deal on the US fiscal cliff.
Brent crude rose to almost US$113 a barrel Wednesday, the highest since October 19, before easing to settle up US$1.36 at US$112.47.
Oil moved in tandem with other risky markets after the US Congress approved a deal to avoid automatic tax rises and spending cuts that were forecast to bring on a recession.
US fuel consumption, wavering since the financial crisis, would weaken further if economic growth spluttered.
Here in Jamaica, consumers are to see higher prices at the pumps this week.
Petrojam on Wednesday announced it will hike the price of E10-87 and E10-90 gasoline by J$1.33.
The increase is the third week in a row and takes the price of gasoline to a 10-week high.
Diesel price will rise by J$0.72 while the price of kerosene will fall by J$0.05 cents.
Propane cooking gas goes up by J$1.50 while butane rises by J$0.36 cents.
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