Jamaica: Another round of changes in fuel price rises in Jamaica, based on the latest weekly price listing released on Wednesday by Petrojam. The prices of Gasoline and Diesel both increase by $3.06 each.
According to the list released, 87 and 90-octane gasoline will be sold for $140.37 and $143.20 per litre. Simultaneously, Diesel will be sold for $130.20 per litre, while ultra-low sulphur diesel is also up by $3.06 and will be sold for $136.30 per litre.
Kerosene prices have also been hit up with the increase of $3.06 and would be sold at the cost of $107.70 per litre this week.
On the other hand price of propane liquid petroleum and butane liquid petroleum have decreased. Propane liquid petroleum will be sold at the price of $53.65 per litre, down by $0.09, while liquid butane petroleum will be sold for $53.33 per litre, after a decrease of $0.25.
Retailers and the marketing companies would add up their respective mark-ups to the prices released by Petrojam.
Despite the fall in the economy of Jamaica
by 8.3 percent, the country still displays the sign of fiscal recovery; the prices of Gasoline and Diesel have increased this week in Jamaica which will eventually impact the residents.
Though prices of propane liquid petroleum and butane liquid petroleum have decreased, questions arise on increased fuel prices.
As we know that the primary source of income of Jamaica comes from Tourism, and because of the current COVID-19 outbreak in the world, it had already been adversely affected, and now the fuel prices have risen in Jamaica. Hence, it will affect the GDP of the country.
The leaders of Jamaica are making sure to balance the economy and introduce measures that can favour the people of Jamaica. However, an increase in basic amenities’ prices is not something that should be increased in COVID-19 pandemic time.