Fuel Prices Increase This Month

PORT MORESBY - Retail prices of petrol, diesel and kerosene in Port Moresby will increase this month, says Independent Consumer and Competition Commission Commissioner Dr Billy Manoka.

The price of petrol increased by K0.08 to K3.61 per litre compared to K3.52 last month.

Diesel and kerosene prices also increased by 8t and 9t respectively.

Diesel is now selling for K3.07 per litre from K2.99 per litre and kerosene is K2.94 per litre from K2.85 per litre. Manoka said prices for all three products at the import parity prices (IPP) level have increased for this month.

“The increase is in the IPP for all petroleum products for this month are attributed by the increase in the Mean of Platts Singapore (MOPS) price for the petroleum product, as a result of an increase in crude oil price at the international market for the month,” he said.

He said the increase in domestic fuel prices for this month was mainly due to high domestic sea freight rates for the third quarter, continuued depreciation of the kina value and an increase in crude oil prices for the month of July.

Manoka said retail fuel prices at designated centres would change according to their applicable in- country shipping and road freight rates charged by the oil distributors for the third quarter of this year. [TheNational]
Bagikan ke Google Plus

0 komentar:

Post a Comment

Note: Only a member of this blog may post a comment.