Jamaican motorists could see a further decline in prices at the pumps in coming weeks.
Crude oil futures fell on Monday, as ample supply and slowing economic growth in Europe and China outweighed expectations of a cut in oil output from the Organization of Petroleum Exporting Countries (OPEC).
Brent crude for November delivery fell $1.42 to settle at $96.97 a barrel.
Fuel prices in Jamaica fell by a big margin last week. Petrojam cut the price of gasoline by $2.47. It was the biggest decline in gas prices for a single week in 2 years.
Meanwhile, OPEC members, many of them needing oil prices above $100 a barrel to meet budgetary needs, will review oil output policy at a meeting on November 27.
Many analysts expect OPEC to cut output to slow the recent price slide, but it is not clear how much impact a reduction willl have on prices at a time of oversupply and high inventories.
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Oil price dips further
