Archive for January, 2009

Petrojam challenged again

Monday, January 19th, 2009

A few days after PetroJam posted its response,  Gerald Cameron once again states the case ask revisit their information.

I am here to dispute that with facts. The reduction in our ex-refinery gasoline prices declined by an average of 37 per cent for unleaded 87 (from J$78.43 on July 17, 2008 to J$48.78 on January 7, 2009 (refer to Petrojam’s website). In Miami gasoline declined an average of 55 per cent (from US$4.13 on July 7, 2008 to US$1.87 on January 7, 2009 (refer to ).

For the full letter:

Petrojam response to Pricing complaints

Petrojam response to Pricing complaints

Sunday, January 18th, 2009

Petrojam has responed to complaints about pricing. Here is the an excerpt from the article

Petrojam’s ex-refinery product prices are based on USG (United States Gulf) reference prices for petroleum products, which provide for a transparent and credible petroleum product pricing mechanism. These prices are not based on crude oil reference prices such as WTI (West Texas Intermediate). While the crude and product markets eventually converge over time, they exhibit unique characteristics at any given point in time, largely driven by supply and demand factors in each specific market.

For more you can read the full article here