Fuel prices drop further, kerosene, diesel up

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There is more good news for motorists and the community – in relation to petrol prices.

The Minister of Finance, Sili Epa Tuioti, has advised that retail prices for petrol has dropped further for April. 

The Minister announced a decrease in the Retail Prices for petrol by 11sene from $2.07 to $1.96 per litre.

But there is a slight increase in diesel and kerosene prices. Diesel has increased by 5sene from $1.79 to $1.84 per litre while kerosene has gone up by 6 sene from $1.52 to $1.58 per litre. 

“The weaker Petrol Prices reflects the lower demand for petrol in the winter months in the northern hemisphere, in comparison Diesel demand increase due in part to the colder weather,” a press release from the Ministry said. 

“Global crude-oil prices are generally improving due in part to the agreement between Saudi Arabia, Russia, Venezuela and Qatar to freeze their crude output at January 2016 levels. This agreement has sent mixed reactions to the market, as some see no point in maintaining record-high production levels, while others believe not increasing volumes might indeed support prices. A new meeting is expected to take place in late March in Russia.”

Retail Prices at Service Stations: 

1 – 30 April 2016

Unleaded Petrol $1.96

Diesel $1.84

Kerosene $1.58

 

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