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Gas Price Review - Week Ending August 28, 2005

This week, oil prices closed around the US$70 mark for a barrel of Oil. In Jamaica and the world consumers received a new shock. Hurricane Katrina has all but shut down oil refining in the Gulf of Mexico. We express our deep symapathies to those directly affected by Hurricane Katrina. Jamaica and the rest of the world will feel the effects. In the coming week expect gas prices to skyrocket to new highs.

Average Prices
The average price of 87 Octane is $47.01, 90 Octane $50.62 and Diesel $44.89. The price range from $45.10 to $48.97, $47.44-56.99 to $54.09, and $43.64 to $47.46, for 87, 90 and Diesel respectively. A quick comparison from of the price off Petrol for the week ending June 12, 2005 and August 28, 2005 reveals the following

	June 12	August 28
Product	$ per litre	$ per litre
87	$41.80	$47.01
90	$44.98	$50.62
Diesel	$41.10	$44.89

source: Jamaica Gas Prices data

Alternatives
Do you need to drive to work? This is a question many will be asking themselves. Some tough choices will have to be made soon as we keep our eyes on the rising oil prices and look to conserve. Choosing routes and driving times carefully, carpooling as the new school term kicks on September 5, 2005 will need to be seriously considered.

While looking at alternatives and gas saving measures remember to bookmark and visit Jamaica Gas Prices (http://www.jamaicagasprices.com.jm) for the latest gas prices. Remember that you can submit prices too my using our submission system.

Coming soon will be a member’s area that will allow you to track consumption, work out how many miles per the gallon and more week prices updates to your e-mail or cell phone as desired.