US$18-m fuel shield
Business
Finance
July 22, 2026
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STATE-OWNED refinery Petrojam has spent about US$18 million subsidising fuel costs to shield consumers from steeper price increases, with Chairman Metry Seaga saying the Government will eventually reimburse the company.
Seaga disclosed the figure during a panel discussion following Tuesday’s release of the second-quarter JCC/GK Capital Consumer Indices, while responding to questions about measures being taken to contain energy costs.
“To date, Petrojam has spent about US$18 million subsidising the cost of fuel,” Seaga said.
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