Sun | Sep 24, 2017

Predictable Petrojam

Published:Thursday | February 11, 2016 | 2:00 AM


Consumers are getting tired of this predictable behaviour every Wednesday of each week of the year. The behaviour I'm referring to is Petrojam's pricing game. When oil or the so-called Gulf Reference Price falls significantly, then Petrojam drops the price for two Wednesdays (no more than J$3).

However, if the global price rises by a dollar, then the next two weeks Petrojam increases local prices to recover "lost profits". This phenomenon is reminiscent of taking five steps forward and 10 steps back.

Also, I've found that when the big business associations make a public statement and complain about the state-owned company, the following week Petrojam cuts the price to appease them.

Please give consumers more savings, as increased volumes of trade also leads to increased profits. More transparency from Petrojam is needed in understanding what is being done with our tax dollars. The JPS has done that, and so can Petrojam. A luta continua.

Jermaine Young