The Israel-Hamas conflict sparks global oil price surge, prompting concerns about gas prices worldwide, including Jamaica. Locally, Errol Edwards, President of the Jamaica Gasoline Retailers Association (JGRA), Cautions on Geopolitical Impact on Gas Prices. When asked about the concerns of local industry professionals, he pointed out that the U.S. Gulf Coast Reference Price serves as a vital pricing benchmark in the energy sector, particularly for crude oil and refined products. This benchmark reflects the costs associated with the buying and selling of these products in the U.S. Gulf Coast region, which is a significant hub for oil and petroleum production, refining, and distribution.
Reporter: Ramon Gordon
This story will be updated subsequent to our newscast
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