Jamaica Gas Prices

Oil Prices inched up yesterday to close at US $88.31 per barrel, just a shade below the record price last week. In the industry continues to be challenged by Turkish- Kurdish confrontations and speculators waiting on the prices of Oil to move to U$ 100. The possible most significant factor is that reports are coming out that there was large and unexpected declines in U.S. crude and gasoline inventories last week catching Dow Jones Analyst of guard.

It seems that despite the their problems, Americans are gobbling up more Gasoline while the same associated press report says that Crude and Gasoline imports fell.

Possible good news for us here in Jamaica is that September 2007 Organization of Petroleum Exporting Countries(OPEC) agreed to boost production beginning November 1. 2007

Here in Jamaica, Gas prices continued their upward march. For more details read “Gas Prices Review for the Period Oct 18-24, 2007“