Energy Minister says Government shielded consumers from over J$3.7B in potential fuel price hikes since February

Energy Minister says Government shielded consumers from over J$3.7B in potential fuel price hikes since February – IRIE FM

The Government has shielded consumers and businesses from over J$3.7 billion in potential fuel price increases since February.

Energy Minister Daryl Vaz says this was largely achieved through Petrojam’s pricing mechanism.

He indicates that Jamaica’s energy security remains intact, despite uncertainty in the international oil market due to conflicts in the Middle East.

However, he says petroleum prices remain a concern for the Government, amid the easing of price increases on the international market.

Mr. Vaz says global oil prices are expected to remain relatively stable by the end of 2026.

The Minister assures that the Government will continue to work with Petrojam to shield households and businesses from sudden fuel price increases.

He provided the update at a post-Cabinet press briefing today.

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