Motorists will pay slightly less for fuel when they fill up at the pumps as of Thursday, February 24, according to the latest price listing released on Wednesday by the state-owned oil refinery, Petrojam.
However, Petrojam is warning motorists and other consumers to brace for increases in the prices of petroleum products over the next few weeks. It said higher prices will likely be driven by higher crude prices caused by the Russia-Ukraine crisis and possible supply constraints due to Monday’s explosion and fire at the Marathon Petroleum Corp’s refinery in Louisiana, USA.
The latest price movements show that 87-octane gasoline is down in price by $0.25, and will be sold this week for $180.65 per litre.
At the same time, 90-octane gasoline is also down in price by $0.25, and will be sold for $185.67 per litre.
Automotive diesel oil is also down in price by $0.25, and will be sold for $183.41, while ultra-low sulphur diesel is down by $0.25, and will be sold for $187.92 per litre.
Users of kerosene will also pay $0.25 less. The commodity will be sold this week for $158.01 per litre.
Meanwhile, propane is up in price by $3.06 per litre, and will be sold for $79.10 per litre, while butane moves up by $3.00, and will be sold for $88.89 per litre.
The marketing companies and retailers will add their respective mark-ups to the announced prices.