As oil prices on the global market climb to seven-year highs, managing director of Petrojam Winston Watson is warning Jamaicans that further price hikes could be on the horizon.

“OPEC (Organization of the Petroleum Exporting Countries) did not increase their production the way people expected so that drove up the price of crude oil, and if the price of crude oil goes up the price of finished products will go up,” said Watson. Prices are up 37 per cent since the start of the year.