The Government is moving
to allay fears as Jamaicans begin feeling the effects of the recent rise in the
price of oil on the world market.
For the third consecutive week, consumers will on Thursday start paying more for petroleum products supplied by the state-owned oil refinery Petrojam.
Petrojam says the prices of all its products have increased due to changes in US Gulf reference prices.
The price of oil is currently above US$80 a barrel.
Energy Minister James Robertson says he is keeping his fingers crossed that the spike will be short-lived.
In the interim, he says his Ministry is busy making final preparations for this weekend's full roll-out of various blends of E-10 gasoline.
"November 1st, Petrojam will be offering E-10 87 and E-10 High Octane otherwise called 90 and that will take place both in the south coast and the north coast. We are working on the mandating of it and that is a matter for Cabinet and that will go to Cabinet in the very near future, hopefully by this week but I cannot say what Cabinet is going to do," Mr. Robertson said.
E-10 is a cheaper form of fuel and is more environmentally friendly.
It is a mixture of 10% ethanol derived from sugar cane and 90% gasoline.
In the meantime, Cabinet has signed off on the Energy Policy which will among other things help Jamaica reduce it reliance on imported fuels.
Mr. Robertson says the Policy is now scheduled to be tabled in Parliament early next month.
"Out of the Energy Policy we will drive the Biomass Fuels Policy, the Renewables Policy, we will be able to sit down and plan how we are going to secure Jamaica's energy security and in short order what also being driven is the diversification of our energy base to Liquid Natural Gas, that also comes out of the Energy Policy," he said.
For the third consecutive week, consumers will on Thursday start paying more for petroleum products supplied by the state-owned oil refinery Petrojam.
Petrojam says the prices of all its products have increased due to changes in US Gulf reference prices.
The price of oil is currently above US$80 a barrel.
Energy Minister James Robertson says he is keeping his fingers crossed that the spike will be short-lived.
In the interim, he says his Ministry is busy making final preparations for this weekend's full roll-out of various blends of E-10 gasoline.
"November 1st, Petrojam will be offering E-10 87 and E-10 High Octane otherwise called 90 and that will take place both in the south coast and the north coast. We are working on the mandating of it and that is a matter for Cabinet and that will go to Cabinet in the very near future, hopefully by this week but I cannot say what Cabinet is going to do," Mr. Robertson said.
E-10 is a cheaper form of fuel and is more environmentally friendly.
It is a mixture of 10% ethanol derived from sugar cane and 90% gasoline.
In the meantime, Cabinet has signed off on the Energy Policy which will among other things help Jamaica reduce it reliance on imported fuels.
Mr. Robertson says the Policy is now scheduled to be tabled in Parliament early next month.
"Out of the Energy Policy we will drive the Biomass Fuels Policy, the Renewables Policy, we will be able to sit down and plan how we are going to secure Jamaica's energy security and in short order what also being driven is the diversification of our energy base to Liquid Natural Gas, that also comes out of the Energy Policy," he said.
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