The maximum retail price of petrol in Port Moresby has increased from 350.78 toea per litre (Retail Price for May) to 357.65 toea per litre, diesel from 296.46 toea per litre (Retail Price for May) to 307.51 toea per litre while kerosene from 265.64 toea per litre to 278.24 toea per litre.
Read below to find out fuel prices in all other designated centres.
For the Month of June, the new retail fuel prices will all increase on average throughout the country.
The increase is main attributed to increased global demand in response to the reopening of economies and increased travel in the United States of America and Europe.
Expectations that reopening economies and higher travel numbers in the United States and Europe would boost fuel demand outweighed this week’s concerns about the coronavirus spread in parts of Asia and the potential return of Iranian oil to the market.
Oilprice.com
The domestic retail fuel prices are inclusive of the IPPs, domestic sea and road freight rates for the second quarter of 2021, the annual wholesale and retail margins for 2021, applicable excise duties and Goods and Services Tax.
Maximum fuel prices in all other designated centres;
The Independent Consumer and Competition Commission remind retailers to set fuel prices to one decimal place.
Consumers are advised to report any instances of overcharging through ICCC’s Consumer Protection Division on telephone 312 4600, or on toll-free number 180 3333, or by contacting ICCC’s Regional Offices closest to them.
