New highs in petrol prices locally
Motorists will be faced with a new round of record prices for petrol when they fill up at the pumps on Thursday.
According to the latest ex-refinery prices that were announced by the state-owned oil refinery, Petrojam, on Wednesday, 87 and 90-octane gasoline will be increased by $1.98 per litre, and will be sold for $142.02 and $144.86 per litre, respectively.
Automotive diesel fuel is up by $3.15 per litre, and will sell for $144.92, while ultra-low sulphur diesel is up by $2.83, and will be sold for $148.82 per litre.
Meanwhile, kerosene is up by $2.52, and will be sold for $125.32 per litre.
Propane liquid petroleum will be sold for $58.08 per litre, down by $0.08, while butane liquid petroleum will be sold for $66.25 per litre, following an increase of $1.19.
The latest price increases are being driven in part by uncertainty in the Middle East and a shortfall of oil on the world market.
Marketing companies and retailers will add their respective margins to the prices from Petrojam.