Gas prices down by $4.50 this week
Motorists are to benefit from one of the biggest single day declines in the prices of gasoline when they fill up at the pumps on Thursday.
Based on the latest weekly pricing of petroleum products distributed by the state-owned oil refinery, Petrojam, 87 and 90-octane gasoline are to be sold for $119.70 and $122.52 per litre, respectively, down by $4.50 each.
However, automotive diesel fuel will see a slight increase of $0.03, and will be sold for $123.08 per litre, while ultra-low sulphur is up by $0.01, and will be sold for $128.00 per litre.
Meanwhile, kerosene is also slightly up in price by $0.05, and will this week be sold for $102.50 per litre.
Petrojam has announced that propane liquid petroleum is down by $4.50, and will be sold for $34.89 per litre, while butane liquid petroleum will be sold for $45.46 per litre, an increase of $0.02.
The marketing companies and retailers will add their respective mark-ups to the prices from Petrojam.
It seems motorists could benefit from lower fuel prices for some time, as the coronavirus (COVID-19) pandemic has sent oil prices tumbling to record lows on the world market.