The Independent Consumer and Competition Commission has released the new retail prices which will come into effect Sunday 8th April.
Based on the various cost components, retail process for fuel in Port Moresby now sit at:
- Petrol 351.61 toea per litre (tpl) equivalent to K3.51 per litre, an increase of 4.49 tpl from March
- Diesel 316.68 tpl equivalent to K3.16 per litre, an increase of 4.55 tpl
- Kerosene 291.05 tpl equivalent to K2.91 per litre, an increase of 1.45 tpl
For other centres, the average fuel price increase are as follows:
- Petrol to increase by 3.49 tpl
- Diesel to increase by 3.85 tpl
- Kerosene to increase by 0.51 tpl
ICCC reminds all fuel retailers that it will conduct inspections to ensure retail prices are within the parameters of the fuel price increases.