Sun | Oct 21, 2018

Jamaica's petrol industry

Published:Thursday | January 8, 2015 | 12:00 AM


Jamaica's retail petrol industry is quite dynamic and it is fundamentally imperative that the minister of energy, Phillip Paulwell, diligently monitor the entire industry to pragmatically ensure that the industry complies with the regulations and laws that govern it.

It is very strange that the price of oil per barrel has been reduced from a high of $110 per year some time ago to a low at present of approximately $50 per barrel, yet - unacceptably - petrol stations across the country have not reduced their petrol prices in tandem with the overall reduction in the global oil price per barrel. This warrants the ministerial actions of Phillip Paulwell.

Petrol prices in this country are still extremely high and have not been reduced to reflect the reduction in the price of oil per barrel, which could be termed in one instance as corrupt.

Minister Paulwell has a major responsibility to ensure that importers of petrol products pass on the reduction in petrol prices to its dealers and, thereafter, the dealer gas stations must be urged to pass on those reductions to customers.

Regulations that govern the petrol industry make it mandatory for all operating petrol stations to publicly display their selling prices on billboards. However, some petrol stations are not adhering to this requirement. This, again, requires the stern attention of Minister Phillip Paulwell. The Bureau of Standards must also ensure that they regularly visit all petrol stations and periodically inspect and test those petrol pumps to ensure that customers are receiving value for money at service stations.


Montego Bay