Energy Ministry to discuss publication of fuel prices with CAC

Discussions are slated between the Energy Ministry and the Consumer Affairs Commission regarding the publication of fuel prices.
This will enable consumers to make informed decisions when purchasing petroleum products.
Speaking at the Petrojam Private Sector Breakfast Forum on Wednesday, Energy Minister Daryl Vaz said the dialogue will facilitate the creation of a memorandum of understanding between the entities.
The event sought to educate private sector stakeholders about Petrojam's pricing mechanism.
Explaining how Petrojam's ex-refinery prices are set, General Manager Winston Watson said this is undertaken weekly, based on the principle of import parity pricing.
Import parity determines the price at which to bring finished products into Jamaica.

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