There are signs that the petroleum retail trade is beginning to shrink with the Jamaica Gasoline Retailers Association, JGRA, reporting that nine of
FOR the second straight week Petrojam has increased the ex-refinery prices of fuel.
The prices of 87 and 90 octane gasoline have gone up by $1.97 per litre. They will now be sold for $99.80 and $101.45 per litre respectively.
Automotive diesel oil has been increased by $1.43 and will now be sold for $100.72 per litre.
The price of Kerosene oil has been increased by $1.85, it will now be sold for $102.35 per litre.
Propane liquid petroleum and Butane liquid petroleum have seen price increases of 38 cents and $1.88. They will now be sold for $32.45 and $43.50 per litre respectively.
Retailers and marketing companies will add their respective mark up
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Petrojam has projected that consumers could see a slight ease in pumps prices for the current fiscal year.
The refinery which is majority owned by the government, in its forecast for the 2012/2013 fiscal year says while it expects prices to remain strong in spite of continuing economic uncertainties, the average selling prices could fall about 3 percent.
Petrojam did not say how it expects the reduction in oil prices to affect prices at the pumps.
However since the start of the year pump prices have moved up by about 8 percent.
http://rjrnewsonline.com/business/petrojam-projects-slight-dip-petrol-prices
The state-owned oil refinery Petrojam has dismissed claims that it obtains crude oil at discounted prices under the PetroCaribe agreement with Venezuela but does not pass on the lower costs to consumers.
“It is not at a discount to Petrojam,” the refinery’s general manager, Winston Watson, declared at last week’s energy meeting at the refinery complex in Kingston.
There is he said a lot of misinformation and misdirected facts in the marketplace.
“We buy the crude oil from Venezuela at a competitive
The government of Jamaica is not using the pricing mechanism of the state-owned refinery, Petrojam, to jack up the price of petrol in order to benefit from increased tax revenues.
This was stated by General Manager of Petrojam, Winston Watson, on April 4, during a question and answer session on the topic:
THE Government is not using the pricing mechanism of the state-owned refinery, Petrojam, to jack up the price of petrol in order to benefit from increased tax revenues, Petrojam officials have said.
General Manager of Petrojam, Winston Watson, said yesterday that the company
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