Relief for motorists and village people starting today.
Prices for diesel, petrol and kerosene have dropped slightly as of today.
And the Independent Consumer and Competition Commission (ICCC) will monitor service stations to ensure there is no delay in adjusting the new prices nationwide.
ICCC announced the rates this week and attributed it to the fall in the price for middle and light distillates.
Port Moresby fuel will be 14t less for Petrol and Kerosene and 16t less for dieselthan previously purchased:
Petrol will now be K3.08 per litre
Diesel K2.33 per litre
Kerosene – K2.25 per litre.
Prices in other centers will change according to their applicable in-country shipping and road freight charged by oil distributors.
Petrol in Lae is expected to be sold at K3.20 per liter, K2.45 for diesel and K2.37 for kerosene.
Mt Hagen’s fuel retail price for petrol is K3.37, diesel K2.72 and Kerosene K2.64 per liter.
Retailers in Mendi town should sell petrol at K3.54 per liter, Diesel at K2.79 per liter and K2.71 for kerosene.
Lorengau’s expected fuel price is K4.13 for petrol, K3.53 for diesel and K3.38 per liter for Kerosene.
ICC says the main reason for the fall in price is the continuous release of stocks of crude oil into the market for the last two month.