Gas Sales down 10%
Friday, May 30th, 2008Reports are now surfacing that Gas Sales has fallen as much as 10%.
The Jamaica Gleaner reports, that retailers have seen a 10% drop in volumes at the gas pumps. The retailers believed the situation will get worse in the summer holidays when schools are out and volumes normally decline.
In the USA, they have also seen a decrease in the number of miles driven that Americans are doing for the first time in 26 years.
All this is driven by the record Oil prices that the world has seen in the last few weeks. Oil Prices have hit a record high of US $135 per barrel.
Yesterday, ex-refinery prices on Petrol announced by PetroJam increased by between $2.89 and $2.96.