On December 5, 2024, petrol prices in Jamaica will decrease significantly, with 90-octane and 87-octane gasoline priced at $164.04 and $155.07 per litre, respectively. Diesel prices will also drop, with automotive diesel at $161.47 and ultra-low sulphur diesel at $168.59. Kerosene will be $145.15 per litre, while propane and butane liquids will also see reductions.
Effective December 5, 2024, gas prices in Jamaica will experience a notable decrease according to recent ex-refinery costs from Petrojam. The price for 90-octane gasoline will be reduced by $3.06, bringing the new cost to $164.04 per litre. Similarly, 87-octane gasoline will also see a decline to $155.07 per litre, maintaining the same $3.06 reduction.
Diesel prices will also drop, with automotive diesel set at $161.47 per litre after a $3.06 reduction. Ultra-low sulphur diesel will decrease by $2.94 to $168.59 per litre. Kerosene prices will align with this trend, falling by $3.06 to $145.15 per litre.
In addition, propane liquid petroleum will decrease by $0.77 to $73.34 per litre, while butane liquid petroleum will see a reduction of $0.92, reaching $82.87 per litre. It’s important to note that marketing companies and retailers will add their respective mark-ups to these prices after the decrease.
The decrease in fuel prices is attributed to changes in the ex-refinery costs published by Petrojam, which is the primary oil refinery in Jamaica. Such adjustments impact transportation costs and can influence the overall economy by affecting the spending power of consumers as well as costs of goods and services. Fuel prices are usually dictated by global oil market trends, local refinery pricing, and government regulations.
In summary, starting December 5, gasoline and diesel prices in Jamaica will see significant reductions, providing some financial relief for motorists. This change follows ongoing trends in oil pricing and reflects adjustments in the local economy. As additional costs from retailers may apply, consumers should stay informed about total pricing at the pumps.
Original Source: www.jamaicaobserver.com
