Chris
May 18, 2004, 09:43 AM
JAMAICANS ARE once again staring down the barrel of another increase in gas prices, as world oil prices struck a new record high yesterday.
The price of U.S. light crude oil reached a record high US$41.85 per barrel. The current price is the highest ever since the New York Mercantile Exchange launched the crude contract in 1983.
The nation, not yet acclimatised to the $1.55 per litre increase that was implemented at the pumps last Thursday, will, experts say, have to brace itself for another increase in the coming days.
According to Zia Mian, an international consultant on information technology and energy, per litre prices at the pumps are the tip of the iceberg. "The problem for Jamaica is not at the pump level but how much foreign exchange is needed in order to finance the import bill," he said
more ... (http://www.jamaica-gleaner.com/gleaner/20040518/lead/lead3.html)
The gas prices are getting ridiculously high! I put JM$1,000 in my wife's car yesterday and it barely passed the 1/2 mark :confused: Earlier this year the same money would have almost filled it up!
The price of U.S. light crude oil reached a record high US$41.85 per barrel. The current price is the highest ever since the New York Mercantile Exchange launched the crude contract in 1983.
The nation, not yet acclimatised to the $1.55 per litre increase that was implemented at the pumps last Thursday, will, experts say, have to brace itself for another increase in the coming days.
According to Zia Mian, an international consultant on information technology and energy, per litre prices at the pumps are the tip of the iceberg. "The problem for Jamaica is not at the pump level but how much foreign exchange is needed in order to finance the import bill," he said
more ... (http://www.jamaica-gleaner.com/gleaner/20040518/lead/lead3.html)
The gas prices are getting ridiculously high! I put JM$1,000 in my wife's car yesterday and it barely passed the 1/2 mark :confused: Earlier this year the same money would have almost filled it up!