Petrojam Limited has published the new rates for oil prices and consumers are expected to brace for yet another increase which will take effect on Thursday, March 3, 2022. According to Petrojam, this week’s increase is mainly due to sanctions that the United States of America and other countries have placed on Russia since they invaded Ukraine.
The following price increases will take effect this Thursday:
E-10 87 will sell for $182.43 per litre, an increase of $1.78, while E-10 90 will sell for $187.42 per litre, an increase of $1.76.
Automotive diesel oil will sell for $186.47, an increase of $3.06 per litre.
Ultra-low sulphur diesel will sell for $190.97 per litre, an increase of $3.06.
Kerosene will sell for $161.07, an increase of $3.06.
Propane cooking gas will sell for $80.32, an increase of $1.22, while butane will sell for $89.51 per litre, an increase of $0.62.
Retailers will also be adding their mark-ups to the listed prices scheduled for this week.
Meanwhile, it should be noted that Russia and Ukraine are major producers of energy, grains and various other commodities. Therefore, as a result of the war between the two countries, Jamaica as well as other countries are expected to be impacted by sanctions.
Last week Thursday, at a groundbreaking ceremony for the St. Andrew Police Station, Prime Minister Andrew Holness mentioned the impacts that the current war situation may have on the country. He stated that “While it is still the early phase of the crisis, we expect that the impact on Jamaica could be through the global energy process, oil prices, in particular, and possibly through some commodities, mainly wheat, flour prices”.