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BSc. Econ
Apr 15 • 10 tweets • 3 min read
1/ Jamaica, listen up – this one’s gonna hit your pocket straight in the chest. Energy Minister
Daryl Vaz just stood up at today’s post-Cabinet briefing and basically said: “Brace yourselves.” Petrojam, our only refinery, is switching to a brand-new tiered pricing system for fuel starting today. No more soft landing. The reason? The war in the Middle East is choking global oil like a vice.
2/ First, the spark that lit the fire. Back in late February, the US and Israel hit Iran hard. Iran’s response? They shut down the Strait of Hormuz – that skinny waterway that carries one in every five barrels of the world’s oil.
Think of it as blocking the only highway trucks use to deliver gas to the entire region. Ships stopped moving. Oil prices shot from around US$60 a barrel to pushing US$100+ in weeks. Volatility ever since. Jamaica doesn’t produce oil. We buy it. So when the world price sneezes, we catch pneumonia.
