The Jamaica Gasoline Retailers Association (JGRA) is calling for swift action from the government to curtail the movement in petrol prices which are now at an 18 year high.
According to JGRA President, Dianne Parram, says there is need for a control mechanism.
Last week the association indicated that some of its members are struggling to maintain operations, as gas prices continue to increase.
Since the start of the year, 87 gasoline has risen by $10.42; 90 has gone up by $9.98 and diesel $16.74 per litre.
Meanwhile, CEO of Seprod Group Richard Pandohie, says manufacturers are taking a significant hit from the increased fuel prices.
He says the country has to urgently shift to the use of renewable energy sources to buffer the impact of rising global oil prices:
And oil prices were mixed today after rallying on an unexpected drop in U.S. crude inventories in the previous session, as investors await the outcome of U.S.-Iran nuclear talks that could add crude supplies quickly to global markets.
Brent crude futures slid 10 cents to $91.45 a barrel while U.S. West Texas Intermediate crude was at $89.74 a barrel, up 8 cents.
Robust demand recovery from the coronavirus pandemic has kept global oil supplies snug, with inventories at key fuel hubs globally hovering at multi-year lows.
U.S. crude inventories fell 4.8 million barrels in the week to February 4, dropping to 410.4 million barrels – their lowest for commercial inventories since October 2018.
Analysts in a Reuters poll had forecast a 369,000-barrel rise.
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