Featured Finance News

ICCC announces fuel maximum retail price for January: prices of petrol, diesel & kerosene to decrease

By Meriba Tulo – EMTV News, Port Moresby

The country’s watchdog has announced the new retail fuel prices for this month, with motorists given some reprieve, with prices for petrol, diesel and kerosene, all seeing decreases.

As of tomorrow, Tuesday January 8, in Port Moresby :

  • Petrol prices will decrease by 18.73 toea per litre – to K3.20 per litre,
  • Diesel decreases by 27.73 toea per litre – to K3.03 per litre, and
  • Kerosene decreases by 25.56 toea per litre – to K2.80 per litre.

For outside centres, prices will decrease as follows;

  • Petrol prices will decrease by 22.01 toea per litre;
  • Diesel prices decrease by 31.61 toea per litre; and
  • Kerosene prices will decrease by 29.25 toea per litre.

According to the ICCC, the decrease in the retail prices for the three petroleum products is mainly attributed to the decrease in the Import Parity Prices (IPP) for January, and the decrease in the domestic sea freight rates for the first quarter of 2019.

The new prices come into effect tomorrow.

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