Petrol prices to fall in November

Motorists can expect cheaper prices at the petrol pump for the month of November, the Ministry of Finance (M.O.F.) has confirmed.

The Finance Minister, Sili Epa Tuioti, announced the new prices for petrol, diesel and kerosene in a public press release on Saturday.

Petrol will decrease by 2.8 sene, the release confirmed, dropping from $2.21 to $2.18 sene per litre.

Diesel will decrease by almost 10 sene, dropping from $2.15 to $2.06 per litre and kerosene to decrease by 8 sene, from $1.70 to $1.62 per litre.

"Falling product prices and freight costs and a favourable movement in the tala vis the [U.S. dollar] in September combined to reduce Samoa's prices for the month of November," the statement reads.

According to the public statement, crude oil demand has fallen, as one of the many impacts of COVID-19 pandemic on the world economy.

The decrease in prices for the month of November is the second decrease for diesel and kerosene in the last three months since a major fall in petroleum prices between June to July due to the effects of COVID-19 on the global economy.

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