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Stabroek News



Oil price decline not passed on
published: Wednesday | October 22, 2008

The Editor, Sir:

It is alarming that oil has fallen over 45 per cent on the world market and diesel and gas prices remain high at the pumps in Jamaica. From a high of US$147.00 plus, prices have plummeted on the world market to US$75.00 plus per barrel as of October 15.

As prices rose on the world market, within days/weeks they were adjusted upwards in Jamaica. However, as they trend downwards by enormous amounts and percentages, the reductions are small and do not reflect the reductions over the past weeks.

Diesel prices

Diesel oil prices in particular remain ridiculously and inexplicably high. This we think is unfair. The full reductions should have already been passed on to the Jamaican consumer.

In the US, gas prices at the pump are already down 25-37 per cent. Jamaica's small percentage reductions are unacceptable, yet we seem so non-vocal about it.

Like Sisyphus, will we always be doomed to walk uphill, rolling a stone, while those who can lighten our burden, are emboldened; content in our quiet, tacit acceptance of our lot.

I am, etc,

DAVID B. G. MINOTT

Minott Services Ltd

Managing Director

Kingston 5

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