Jamaica’s oil imports during the first half of this year were lower and there are expectations the trend could continue. Oil imports totaled just over US$1 billion between January and June. Continued decline in the price of oil could see the fuel bill falling below the US$2.2 billion spent last year. Yesterday oil price slid the most in 22 months on indication there were ample supplies to shield the market from the risk of disruption due to the conflict in the Middle East. Oil for November delivery closed at US$91.16 a barrel which was the lowest settlement since May last year. The price of oil is down 7.5% so far this year.
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Jamaica"s oil bill less than last year
