The Independent Consumer and Competition Commission (ICCC) announced the new retail fuel prices for this month, which take effect today.
These price increases are mainly attributed to the average increase in oil prices, and the depreciation of the PNG kina against the US dollar during the month of July, 2020.
In Port Moresby the maximum retail prices for fuel in Port Moresby are as follows:
- Petrol 281.15 toea per litre (tpl), an increase of 3.91 tpl
- Diesel 249.49 (tpl), an increase of 8.16 tpl
- Kerosene 206.36 (tpl), an increase of 5.59 tpl
For all centers, the maximum retail fuel prices will change on average as follows:
· Petrol prices will increase by 3.91 toea per litre;
· Diesel prices will increase by 8.16 toea per litre; and
· Kerosene prices will increase by 5.59 toea per litre.