Sat | Aug 24, 2019

Fourth straight week of hikes in gas prices

Published:Thursday | July 18, 2019 | 10:52 AM

Gas prices have gone by $3.00.

The state-owned oil refinery, Petrojam, says E-10 87 will sell for $134.98 per litre and a litre of E-10 90 will sell for $137.81.

This is the fourth straight week of increases in gas prices.

Five weeks ago, a litre E-10 87 sold for $123.16, while a litre E-10 90 sold for $125.99.

Meanwhile, automotive diesel has moved up by $3.03 to sell for $135.65 per litre.

Kerosene has been increased by $3.06 to sell for $115.40 per litre.

Propane cooking gas has moved up by $1.28 per litre to sell for $39.24 while butane has been hiked by $1.64 to sell for $54.92 per litre.

Petrojam explains that this week’s price movements were mainly influenced by the effects of Tropical Storm Barry in the Gulf of Mexico and devaluation in the foreign exchange rate.

The oil refinery further says that ongoing geopolitical tensions between the United States, Iran and Venezuela, which continues to restrict supply, have also influence the price increases.

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