The Minister of Finance, Sili Epa Tuioti, has announced a price reduction to retail petroleum products prices for April.
Retail prices for petrol has dropped by 1.6sene from $2.56 to $2.54per litre, for diesel by 0.10sene from $2.47 to $2.46 per litre and for kerosene by 0.60sene from $2.13 to $2.12 per litre.
“April retail prices reflect February Singapore Prices ‘MOPS’ prices which increased marginally,” a statement issued by the Minister said.
“These product cost increases were offset by lower freight costs and a strengthening of the tala over the US$ by almost 1per cent a pick-up in American oil activity kept oil prices in check during February despite reports the OPEC producers are mostly sticking to their pledged cuts.
“The Organization of the Petroleum Exporting Countries OPEC, which formed a pact to slow down its production of crude beginning in January, released its own data to show 93% compliance with production cuts.”
Retails prices at Service Station: 1-30 April 2017
Unleaded Petrol $2.54