Tax fueled Gas price increase is here
Tuesday, January 5th, 2010
Prices as seen at the New Kingston Texaco Service Station on January 2, 2010
Starting January 1, 2010, the price of gas products at the pump at Jamaican service stations has risen. This is a result of the new taxes announced by the Government of Jamaica on December 17, 2009 and retained in revised tax package of December 23, 2009. The government hopes to raise JMD $9.4 billion of taxes from this measure.
The resulting effect is that motorist will pay significantly more at the pump. As demonstrated in the previous post, ‘New Gas Tax hits Jamaica‘, the price to motorist will move up no less than $9.00 per litre at this time. A Gleaner/Power 106 news report suggested the price of gas will increase by over $10 per litre.
On the street
When motorists drive around or visit the pumps this week, they will see prices ranging from the high eighties (80s) to the high nineties (90s). With the price of Oil increasing on the world market, expect to see gasoline being sold for as much as JMD $100+ per litre ( JMD $460 per gallon) in the coming weeks.
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