Business
With rising gas prices, Petroleum Corporation of Jamaica pressured to reveal pricing mechanism
A section of the Petroleum Corporation of Jamaica refinery complex in Kingston, Jamaica. PHOTO/Jamaica Gleaner
In the wake of concerns about the rising gasoline prices in Jamaica, the Petroleum Corporation of Jamaica (PetroJam) is under public pressure to reveal its pricing mechanism.
The latest appeal has come from the Micro, Small and Medium Sized Enterprise (MSME) Alliance which says for many of its members, especially taxi drivers, the impact of rising gasoline prices has been devastating and concerns are mounting in the face of persistent questions about the pricing mechanism used by the Petroleum Corporation of Jamaica.
The President of the Jamaica Solar Energy Association and member of the MSME Alliance, Roger Chang says the information should be made available to dispel doubts that the public is being ripped off.
Chang, speaking to reporters, indicated that he is now waiting on the outcome of a request for the pricing formula through the Jamaica Access to Information Act.
This latest appeal follows several from opposition spokesman on Energy, Gregory Mair who has been strident in his criticisms of the pricing mechanism, labeling it as deeply flawed.
However, the Petroleum Corporation of Jamaica has not yielded to the publics’ demand on the pricing mechanism.
The MSME Alliance is also questioning whether the concerns raised in two audit reports of the Petroleum Corporation of Jamaica in 2008 and 2009 have been addressed.
