Jamaicans Buying Less Gas
Friday, May 16th, 2008It now seems that the tipping point has been reached and Jamaicans are now reducing their expenditure at the pumps. The Jamaica Gasoline Retailers Association president, Errol Edwards, reports that in recent times there has been a 5-7% reduction is the amount of gas being sold. He is more than right in blaming the high gasoline prices for this reduction.
On a day when Oil prices rose to a new high of US$127 per barrel of Oil, Jamaicans are evidently finding the high prices troubling. Jamaican consumers are also being hit with higher food, transport, water and energy costs.
There are projections that the price of Oil could average $141 for 2008, with some analysts predicting Oil Prices of US$200 per barrel. Jamaican consumers will now have to make every effort to conserve.