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Gas Price Review - Week Ending October 10, 2005

The last week has brought another sweeping round of higher prices.Oil prices continue to be up and down with the price per barrel closing Monday October 10, 2005 at US$64.14 according to bloomberg.com

The good news is that gasoline prices in the United States are trending down and since we are supposed to be on this 'Gulf Reference Price' system we should see some decline soon.

This week the forecast seems to be for lower prices at the pump with the best outlook being the prices remaining the same.

Average Prices
The average price of 87 Octane is $60.61, 90 Octane $63.85 and Diesel $55.70.

A quick comparison from of the average price off Petrol for the week ending June 12, 2005, Oct 10, 2005 and the week before reveals the following

	June 12	Oct. 10	Last Week
Product(avg.)	$ per litre	$ per litre	$ per litre
87	41.80	60.61	56.90
90	44.98	63.85	59.80
Diesel	41.10	55.70	49.77

source: Jamaica Gas Prices data .

Highs and the Lows

The prices range from $ 57.20 $ 64.55, $60.79 to $ 67.95and $53.65 to $59.50, for 87 Octane, 90 Octane and Diesel respectively. What is of note is the wide prices differences. A motorist could save up to $7.35 per litre depending on where the decided to buy gas.

Week Oct. 3 - Oct. 10	Lowest Price	Highest Price	Difference
Product	$ per litre	$ per litre	$ per litre
87	57.20	64.55	7.35
90	60.79	67.95	7.16
Diesel	53.65	59.50	5.85

source: Jamaica Gas Prices data .

Jamaican Consumers Restless Over High Gas Prices

The taxi association continues to press the government to meet to dicuss a further round of fare increases as they claim the latest gas price increases have all but swallowed the increases granted in late July 2005.

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.