Petrojam Announces Changes To Its Pricing Mechanism | Business Day
Getting behind the wheel just got pricier for some motorists in Jamaica.
Beginning June 11, 2026, the cap on weekly price movements for diesel will increase from $4.50 per litre to $12.50 per litre.
Petrojam says the change became necessary after global tensions sent oil prices on a rollercoaster.
Under the previous system, the refinery says it absorbed nearly $3.6 billion in costs between late February and the end of May as international fuel prices climbed sharply, shielding customers from the full impact.
With the revised pricing mechanism, increases or decreases for automotive diesel oil and ultra-low sulphur diesel will now be capped at $12.50 per litre.
Petrojam says the new structure is designed to better align local fuel prices with international benchmarks, while still protecting consumers from sharp market shocks.
The company adds that the system will work both ways, allowing motorists to benefit from price reductions when global markets decline, while dealers will continue to apply their mark-ups to determine final retail prices.
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