Energy Minister, Phillip Paulwell, has summoned marketing companies to a meeting on Thursday to demand answers about the rate of reduction being passed on to motorists in the face of falling world oil prices.
Minister Paulwell says he also plans to meet with gasoline retailers to hear why motorists appear not to be getting the full benefit in the price they pay for petroleum based products.
According to the Minister, it cannot be right that consumers feel the full effect of increases in global oil prices, yet receive only partial benefit when the oil price declines.
Minister Paulwell says it’s been a ‘rough year’ with the price of oil, peaking at over 1-hundred US dollars per barrel.
He’s welcoming the continuing fall in world oil prices over the past few months.
But he’s concerned Jamaican consumers are not getting the full benefit at the pumps.
The Minister says he’ll be meeting with marketing companies this week for an explanation of a situation that he says is unfair to consumers.
The Energy Minister says with the falling oil prices, the price of some food products must also come down.
He says consumers have a role to play to ensure further reductions at the pumps.
The Minister is also urging customers of the Jamaica Public Service Company to properly monitor their light bills, as the continuous fall in the price of oil should be reflected in lower energy charges.
However, he noted that there was a reduction in electricity prices in November and this month.
Minister Paulwell was addressing a function yesterday at the Hyde Park United Church in Manchester,