Fuel prices drop across Jamaica, effective December 5, 2024

Petrojam reveals that motorists in Jamaica are in for a treat in form of huge fuel price slashes. The key APA indicators have pleased Pump prices for gasoline, diesel, kerosene, liquid petroleum gas are down as from Thursday, December 5.

The changes provide a sense of ease, especially at a time when energy prices are volatile on the global scene.

Both 90-octane and 87-octane gasoline have reduced by $3.06 to retail at $164.04 per litre and $155.07 per litre respectively.

The price for automotive diesel fuel is also decreased by $3.06 to sell at $161.47 per litre; ultra low Sulphur diesel by $2.94 to retail at $168.59 per litre. Kerosene, needed for most homes, is now $145.15 per litre after having a $3.06 deduction.

At the same time, propane liquid petroleum which is widely used for cooking and heating, was down by $ 0.77 to $ 73.34 per litre. Butane liquid petroleum is lower by $0.92 and now costs $82.87 per litre.

These reductions occur at the backdrop of a prevailing downward trend in fuel prices.

The average prices for such fuel in Jamaica for the previous month based on the data collected on 2nd December 2024 showed that there has been 1.7% decline in the price of gasoline and this was priced at JMD 198.86 per litre.

These shifts are recognized by analysts due to recent declines in crude oil prices and changes on the global market.

As much as this may be true, consumers should make it clear that retail prices differ as marketing companies and retailers set their own prices.

Still, bringing down the cost is good for the public in general since it is about time for the holiday season, which calls for travel and increased in energy usage.

These adjustments from Petrojam shows the readiness of the company to adapt to the global prices for local markets, enabling affordability for the Jamaican population.