Minister Paulwell to Meet With Petroleum Marketing Companies Thursday

Minister of Science, Technology, Energy and Mining, Hon. Phillip Paulwell, will be meeting with petroleum marketing companies this week, as the Government looks to secure greater reduction in prices for consumers at the gas pumps.

“I have summoned the marketing companies for a meeting on Thursday (Dec.18) and afterwards, we are going to be meeting with the retailers because it cannot be right, it cannot be fair that when the prices move up, everybody moves, and when the price falls we are not getting a similar reduction on the price,” he Minister said.

He was addressing a function yesterday (December 15), at the Hyde Park United Church in Manchester, prior to switching on lights to serve three communities in the parish.

Minister Paulwell pointed out that there has been “significant price reduction” for all petroleum products, amounting to 25.6 per cent, but that “there is uneven pass on of the reduction to the consumers”.

“The report is that the price has fallen by an average of 14 to 15 per cent. I want to know what has happened to the other 10 per cent,” he questioned.

He argued further that with the reduction in the price of gas “those food products that usually increase when gas prices rise, must now see some reduction. I want to see the price of those items coming back down.”

He informed that based on reports the fall in gas price is likely to continue for the “long term, and we hope that it is so.”

The Minister, in the meantime, is advising motorists to “shop around” at various gas stations so ensure that they benefit from the lowest prices. He said the Government will be insisting that all sign boards have the prices clearly displayed.

He is also urging customers of the Jamaica Public Service (JPS) Company to properly monitor their light bills, as the continuous drop in the price of oil should be reflected in lower energy charges.

Minister Paulwell said he has mandated Petrojam to do advanced purchasing of oil at the reduced price, so that the Jamaican consumers can have a longer period of price reduction.