Jamaica Gas Prices

Now that the toll increases in Jamaica are into its third day, we turn attention to what it means to motorist already struggling with high gas prices. Interesting the Public Defender speaking on Power 106 FM has joined the debate and has called for a rollback for at least 7 days because lack of notice.

Based on the calculations, the minimum increase was 14.29% while the maximum was 22.22%. Interestingly both occured on the Spanish Town to Kingston Leg in the Class one and Class two categories respectively.

However, the Portmore to Kingston Leg recorded the highest average increase of 20.95%  across all class categories, while the overall average increase in toll rates on all legs to the motorist was 19.27%.

The % increases for each class on the toll roads are shown below.

Vineyards Plaza (Kingston/Spanish Town to Sandy Bay)

Class one: was $230 now $270 increase 17.39%

Class two: was $310 now $370 increase 19.35%

Class three: was $580 now $700 increase 20.69%

Spanish Town (Spanish Town to Kingston)

Class one: was $70 now $80 increase 14.29%

Class two: was $90 now $110 increase 22.22%

Class three: was $180 now $210 increase 16.67%

Portmore ( Portmore to Kingston the shortest leg but has a six lane bridge)

Class one: was $100 now $120 increase 20.00%

Class two: was $140 now $170 increase 21.43%

Class three: was $280 now $340 increase 21.43%

Tied to exchange Rate

The toll agreements basically links the increases directly to the value of the Jamaican dollar to U.S. dollar rate. The Jamaica dollar has devalued in relation to the U.S. dollar from $72.17:$1 in July 2008 to  $89.05:$1 in July 2009, roughly 23.38%. It should be noted that toll increases are due on July of each year.

Based on observation the Portmore leg, is by far the shortest but carries highest volume of traffic. Therefore although the projected revenue increase will likely exceed 19.27%.

The gas prices has since late April 2009 have been influenced increased government taxes on the product and now toll road users have to adjust to new toll rates.  In the next post we will look at the increases in dollar amounts on motorist’s budget.

Source:

• BOJ average FE rate

Tags: Jamaica, Toll Rates

This entry was posted on Tuesday, September 8th, 2009 at 8:30 am and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.