Petrol prices to rise in September

Petrol prices for the month of September will increase for all three kinds of fuel, according to the Minister of Finance, Sili Epa Tuioti.

This is the third consecutive month of price rises since the global coronavirus pandemic caused immense fluctuations in global oil prices.

In a statement released on Monday afternoon, the Ministry of Finance advised the public of the changes, scheduled to take effect from 1 September.

Retail petrol prices will increase by 2 sene per litre, from $2.13 to $2.15, while diesel will increase by 5.2 sene a litre, from $2.12 to $2.17 per litre.

Kerosene will similarly increase by 3.1 sene from $1.67 to $1.70 per litre.

According to the public statement, the crude and product prices are relatively stable as the COVID-19 pandemic continues to slow the global economy.

“Production cuts by O.P.E.C.+ [the Organisation of the Petroleum Exporting Countries and ten other states) have been effective albeit there remains doubt on whether the agreement will hold.”

In June, petrol prices in Samoa dropped to their lowest level of  $1.92 a litre after a steady period of decline. An increase in retail prices only started to take effect again in July.

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