Fears of a dramatic rise in the price of fuel with the April 1 implementation of new revenue measures in Jamaica have been allayed.
RJR News has been informed that consumers will be spared paying significantly more for petrol when the Customs Administration Fee (CAF) is applied to crude oil imports.
It is reported that the decision has been made to reduce the fee. This is aimed at easing the impact on consumers.
A meeting was held Thursday with Major Richard Reese, Commissioner of Customs, and representatives of the Jamaica Gasoline Retailers Association (JGRA) which sought clarification on the effect of the increase on fuel prices.
“I’m told there is a reconsideration of what the original term was in terms of the CAF. I’m told by the Commissioner of Customs that the CAF on crude has been reduced even though he wasn’t able to tell me the magnitude of reduction, but importantly, it has been reduced. So we are hoping that what we can see is a reduction coming out of anything related to crude oil,” said Derrick Thompson, JGRA president, who spoke with RJR News Thursday night.
RJR News has been informed that the adjustment will not impact the Government's revenue target as other changes have been made to the CAF.