When can Jamaican consumers begin to see falling prices due to oil price plunge

Between 2012 and 2012 the Caribbean Cement Company announced no few that 4 prices increases, all attributed to the devaluation of the local currency and oil fast rising oil prices

Many other local manufacturers as well as importers demanded that consumers pay more due to both events and as usual the Jamaican consumer willing forked out more while complaining under their breath.

Now that oil price have plunged more than 50% , with Petrojam passing on about 20-25% to the local market, I have yet to hear a single manufacturer or importer announce any roll back in prices, while the public who happens to be very vocal on non-issues such as Lisa Hanna attire on the beach , they remain amazingly silent on matters of great importance such as this.

Why is their a lack of consumerism in Jamaica, why the Jamaican public so willing to be screwed by everyone, politician, public officials, manufacturers and traders.

When will the Jamaican public start agitating for price reduction or are we going to just sit back and wait for merchants to “take pity” on us and give us a reprieve ?

What a country ?

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4 Responses

  1. Within days of asking the question, I see prices have begun a painfully slow downward movement

  2. I heard the Jamaica Flour Mills GM telling us why flour prices cannot go down even though energy price and world wheat prices are down. Our wheat is VERY special and oil price only plays a small role.

    Now Jamaican should NEVER accept these reasons for any future price increase

  3. http://jamaica-gleaner.com/latest/article.php?id=42024
    Jamaica Flour Mills said the increases are influenced by the continued devaluation of the Jamaican dollar and the rising cost of wheat on the global market.

  4. CONSUMERS MAY have to absorb what could be a massive 50 per cent jump in the price of flour. A cut in the supply of wheat on the world market, and rising oil prices, have started to influence the cost of the basic consumer item in Jamaica
    http://jamaica-gleaner.com/gleaner/20110302/news/news1.html

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