Further increase to fuel prices

Petrol, diesel and kerosene have all increased yet again, forcing motorists to dig deeper.

The new prices set, as of March 08, will see petrol increase by 1.45 toea per litre (tpl), diesel to go up by 3.25 tpl and kerosene rising by 2.12 tpl.

Petrol price now sits at 324.94 tpl (K3.25), diesel at 265.25 tpl (K2.65) and kerosene at 250.16 tpl.

The ICCC attributed the rise to increases in the Import Parity Price for the month of March, due to continued increase in the crude oil price during February.

Fuel prices increase in February

The Independent Consumer & Competition Commission (ICCC) announced the new prices which come into effect today.

Petrol now costs 323.49 (K3.24) toea per litre (tpl) after increasing by 7.08 toea from 316.41 tpl (K3.16).

Diesel is selling for 262 tpl (K2.62) after rising by 6.76 toea from 255.24 tpl (K2.55).

And Kerosene is going for 248.04 tpl (K2.48) following a 3.89 toea increase from 244.15 tpl (K2.44).

Fuel prices increase

Diesel and Petrol have risen by more than 16 toea while Petrol and kerosene has increase by 15 toea.

The increase follows a one-month slump in December 2016 after three consecutive price increases.

As of January 08th, Diesel will be going for 255.22tpl or K2.60, which is an increase of 16.38t from 238.84tpl in December.

A contributing factor to the increase in diesel is the excise tariff imposed on it through Government legislation outlined in the 2017 Budget. Excise tariffs for petrol and kerosene remain the same.

Boat fees for boat travellers increases

Tariff fees for adults and children have received minimal increases which will come into effect as of January 01st 2017.

For the Ports of Moresby, Lae, Kimbe, Vanimo, and Samarai, the fees for Adults will cost K9.09, which will be an increase of 48t from K8.61 in 2016.

Children fees for 2017 will be K4.54, which will be up from K4.30 this year. This is an increase of 24t.

The fees vary for the Ports of Madang, Rabaul Alotau, Oro Bay, Kavieng, Daru, Buka, Kieta, Aitape, Lorengau and Wewak.