The Jamaican Government has bowed to public pressure by rolling back the gas tax from 15 to 10 per cent.
This will result in lowering of petrol prices at the pump of between $4 and $5 per litre.
In taking this measure the Government says it has rolled back and reduced the tax take on fuel to what it was when the price of oil on the world market stood at US$80 per barrel.
The Government also says that it wants to emphasize that the increases in the price of fuel are being driven by the price of oil on the world market and not by taxation.
The Government has taken the decision to make this effective ahead of the presentation of the 2011- 2012 Budget in the interest of continued economic stability.
