The Indicative Retail Prices for Petrol and Kerosene will slightly increase while diesel will decrease on average throughout PNG for the Month of May.
These is mainly attributed to price changes for these petroleum products in Singapore at the Import Parity Price last month.
As a result, retail prices for petrol, diesel and kerosene in the Month of May are as follows:
|Port Moresby Retail Prices (toea per litre, tpl)||Petrol (tpl)||Diesel (tpl)||Kerosene (tpl)|
|Retail Prices as of 8th May, 2021||350.78||296.46||265.64|
|Retail Prices as of 8th April, 2021||350.12||298.91||265.56|
|Change (+/-) tpl||0.66||-2.46||0.07|
Retail prices in all other designated centers will change according to their approved in-country freight rates and their respective retail margins for 2021.
For all centers, the maximum retail fuel prices for each regulated petroleum product in the country will change on average as follows:
· Petrol prices will increase by 0.66 tpl;
· Diesel prices will decrease by 2.46 tpl; and
· Kerosene prices will increase by 0.07 tpl.
As part of the ICCC’s enforcement and compliance of fuel prices, its Investigation Officers will conduct inspections to all service stations to ensure prices of petroleum products comply with the allowable maximum prices.
The following ICCC officers will conduct compliance inspections in Lae, Mt Hagen, Kokopo and Port Moresby. Inspections in other provinces will be supported by our contacts in those provinces. Please note:
· Mr. Christopher Gabesoa, Mr. Seri Tau Vali, Mr. Dennis Jerry and Mr. Bill Boiu will conduct compliance inspections to all service stations in the National Capital District. They can be reached on telephone number, 312 4600;
· Mr. Allen Monyomb and Ms. Pamela Ipambonj will conduct compliance inspections in Lae. They can be reached on telephone number, 472 2859;
· Mr. Bobby Tei, Mr. Roman Rosting and Mrs. Dorcas Baining Julai will conduct compliance inspections in Kokopo, Rabaul, Kerevat, Warangoi and Toma. They can be reached on telephone number, 982 9711; and
· Mr. Kevin Kondo and Mr. Jeffery Khar will conduct compliance inspections in Mt. Hagen, Kundiawa, Goroka and Kainantu. They can be reached on the following mobile numbers, 7369 8251/ 7232 4861.
The prices set by the ICCC are the indicative maximum retail prices, for which retailers may choose to sell below the ICCC approved maximum price. The ICCC would like to remind retailers who sell fuel-using pumps to set fuel prices to one decimal place while the ICCC will continue to set the maximum price to 2 decimal places.
No fuel pump operator should charge above the Indicative Retail Price for this month’s price regardless of the number of decimal places. This is to ensure compliance with the Prices Regulation Act under which the maximum prices of declared petroleum products are set. Retailers who are displaying prices to 1 decimal place are urged by the ICCC to round the prices down to ensure prices are within the allowable indicative retail prices. ICCC Inspectors will continue to conduct spot checks after 8th May, 2021, to ensure on-going compliance by retail fuel operators.
Consumers are advised to report any instances of overcharging by retailers through the ICCC’s Consumer Protection Division on 312 4600, on toll free number: 180 3333 or by contacting our Regional Offices closest to you on the numbers provided above.