Chart Of The Week: Feeling The Pinch At The Gas Pump

jamaica_gasoline_ex-refinery_prices
Source: PetroJam

Click here for the accompanying motion chart.

The prices above are from the Petrojam refinery and are shown before any marketing or dealer mark-ups.

Everyone feels pain when gas prices rise, not just people who own and operate vehicles. Manufacturers who transport goods must decide whether to absorb the increase or pass it along to consumers. Since the end of 2009, there has been an increase of more than 63% in the price of Diesel, the main fuel used in the transport of manufactured goods.

As the chart above shows, users of Unleaded 87 fuel have felt significant pain at the pumps as well. Many public passenger vehicles use this as their fuel of choice. They would have seen an increase of 58% since the end of 2009.

Farmers still need to get their produce to the farm gate, and in turn, market sellers need to get their purchases to the market. Should they absorb any increase in taxi fare or gas prices or should they pass it on to consumers?

In all cases described above, the end user feeling the pinch is each and every single person living on this island.