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Price increase for petroleum products

The Government has announced an increase in petrol, diesel, and kerosene retail prices effective today November 1.

Minister of Finance, Sili Epa Tuioti, advised in a statement yesterday that the new petroleum products prices will apply from November 1.

According to the Minister, the retail price for petrol will increase by 9 sene from $2.88 to $2.97 per litre while the diesel price will increase by 10 sene from $2.91 to $3.01 per litre.

The retail price for kerosene will increase by 8 sene from $2.55 to $2.63 per litre.

He said higher September prices (mean of platts Singapore or MOPS) set the November prices with a further weaking of the tala by 0.7 per cent against the US dollar also impacting final prices.

Tension in the Middle East over Iran and OPEC ability to control production have led to further increases in world crude oil and product prices.

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