Diesel and kerosene prices decrease further for July

Following an all-time low price for petrol, price of petrol has increased this month.

With the world economy severely impacted by coronavirus pandemic, apart from petrol, diesel and kerosene has dropped further for the month of July.

The change in petrol prices is effective on July 1, 2020.

This was highlighted in a press release issued on Wednesday by the Ministry of Finance (M.O.F.)

The retail price for petrol has increased by 6.6 sene from $1.92 and will now cost $1.98 sene per litre.

The Minister also announced that diesel will decrease by 6.4 sene from $2.04 sene to $1.98 per litre.

The kerosene will decrease by 1.2 sene from $1.53 to $1.52 per litre.

 “Whilst the COVID-19 Pandemic has impacted the world economy, OPEC+ agreement to limit crude supply has had the desired effect as crude prices firmed in May,” the release stated.

Aside from petrol, this month marks the fifth time petroleum product prices have decreased since the first decrease in March 2020. 

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