GAS PRICES will rise by $4 per litre today, following disruptions to oil supplies in the Gulf of Mexico caused by Hurricane Katrina.
However, Noel daCosta, chairman of the Petroleum Corporation of Jamaica, believes prices should return to their previous level shortly.
The latest jump comes after an eight per cent increase implemented last month by the state-owned company.
According to Mr. daCosta, prices should return to pre-Hurricane Katrina levels soon because the United States Government has decided to release portions of its strategic oil supplies to respond to the crisis.
"It should not go much higher," Mr. daCosta said. "It is a situation we will have to monitor closely."
