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Port Moresby
July 11, 2020
Business News

Fuel Price Increases

Prices for all three petroleum products; petrol, diesel and kerosene, atthe Import Parity Prices (IPP) level, have increased respectively for this month.

 

The price change is effective as of today, 8th of Augusto2013.

 

 

Forthe month of July, prices for Petrol and Kerosene per litre stands at K1.90,the new price for August is K1.98 per litre, both products increased by 8toea. Diesel has increased by 7toea, from K1.96 per litre in July, to K2.03 per litre.

 

CEO of ICCC, Dr. Belly Manoka saidtheInterOil’s calculation ofthe IPP is based on an interim pricing arrangement withthe government.

 

“Under this arrangement,the Mean of Platts Singapore (MOPS) price quoted toInterOil by its overseas supplies is used asthe basis of calculating domestic prices,” Manoka said.

“Officers will conduct inspections at all service stations to ensure petroleum products are sold atthe right prices.”
 

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