The Independent Consumer and Competition Commission said fuel price movements continue to be influenced by factors beyond the control of ICCC.
“The increase in the price for petrol is attributed to the decrease in Singapore’s commercial supplies of light distillates (which include petrol) while the increase in supplies of middle distillates (which include diesel and kerosene) has led to the slight decrease in diesel and kerosene prices.
“The domestic retail fuel prices for this month are inclusive of the Import Parity Prices (IPP), domestic sea and road freight rates for the fourth quarter of 2019, the 2019 wholesale and retail margins, excise duty, and the Goods and Services Tax (GST).”
PORT MORESBY
As a result of adding all the various cost components mentioned above, the maximum retail prices for fuel in Port Moresby are as follows:
|
Port Moresby Retail Prices (toea per litre) |
|||
|
|
Petrol (tpl) |
Diesel (tpl) |
Kerosene (tpl) |
|
Retail Prices as of 8th December, 2019 |
356.57 |
323.09 |
293.37 |
|
Retail Prices as of 8th November, 2019 |
348.50 |
323.59 |
294.21 |
|
Price Variance (+/-) toea per litre |
+8.07 |
-0.5 |
-0.84 |
Retail prices in all other designated centres will change according to their approved in-country shipping and road freight rates (for the fourth quarter of 2019) that are charged by the fuel wholesalers.
ALL CENTRES
For all centres, the maximum retail fuel prices for each petroleum product in the country will change on average as follows:
- Petrol prices will increase by 8.07 toea per litre;
- Diesel prices will decrease by 0.50 toea per litre; and
- Kerosene prices will decrease by 0.84 toea per litre.
