the decision to increase the prices of gas so that they have enough funds to keep buying more.
We do not realize that we use gas for just about every essential need and a country should have a decent reserve if there ever is a situation where gas may not be as available as it were in the past. Therefore Petrojam has announced that the price of E10 87 and E10 90 will increase by $3.06 per litre to sell for $186.98 and $191.98 per litre, respectively.
Automotive Diesel Oil (ADO) will move up by $4.50 to sell for $192.45 per litre and Ultra Low Sulphur Diesel (ULSD) will also see an increase of $4.50, to be sold for $196.94 per litre.
The price of kerosene will also increase by $4.50 per litre to sell for $167.06 per litre.
However, there will be a reduction in the prices of Propane and Butane. Propane (Liquefied Petroleum Gas) will move down by $3.06 per litre to sell for $78.80 per litre, while Butane (Liquefied Petroleum Gas) will see a decrease of $1.32 to sell for $89.74 per litre.
According to Petrojam, this week’s prices were mainly influenced by tightened supply resulting from the sanctions imposed on Russia for its invasion of Ukraine. Oil prices also rose as hopes of a Ukraine/Russia ceasefire faded, following news last week of a possible peace talk between both nations.
According to reports from the International Energy Agency, as much as three million barrels per day of Russian crude oil could be shut in as a result of the sanctions – and self-sanctions – placed on Russian crude oil.
Marketing companies will add their mark up to the announced prices.
