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Gas Price Review - Week Ending Oct 31, 2007

This week PetroJam announced increases ranging from $1.96 to $ 2.54 on 87, 90 Octane and Diesel respectively. The announcement of ex-refinery prices will once again push local gas prices up. With Oil Prices surging to new highs of $96.24 per barrel of Oil expect continued increases in gas prices in Jamaica in the coming weeks.

Average Prices
The average price of 87 Octane was, 90 Octane and Diesel

Oct 31, 2007 Last Week
Product(avg.) $ per litre $ per litre
87 $58.30 $57.33
90 $61.85 $61.51
Diesel $59.62 $58.62


source: Jamaica Gas Prices data .

Highs and the Lows

The prices ranged from $56.29 to $59.65, $59.03 to $63.46 and $58.59 to $60.39 compared with $55.41 to $60.51, $58.23 to $64.51 and $55.99 to $61.32 for 87 Octane, 90 Octane and Diesel respectively for the week before.

Week
Oct. 25-31
Lowest Price Highest Price Difference Last Week
Difference
Product $ per litre $ per litre $ per litre $ per litre
87 56.29 59.65 3.36 5.10
90 59.03 63.46 4.43 6.26
Diesel 58.59 60.39 1.8 5.33

source: Jamaica Gas Prices data .

Interesting this week, the differences between highs and lows decreased (as shown in the table above) compared with last week, which could suggest that there is now indeed a resistance to the higher prices. This however could be just reflective of the available data. s

On thing motorist must do is try to avoid the traffic congestion as far as possible. Leaving earlier where possible and leaving work later might be better option than sitting idle in the Traffic. Sitting in traffic for two(2) hours for a regular thirty minute(30) drive does not look like a good option considering the increased gas prices at the pump

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 by using our submission system.

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