Minister of Finance, Mulipola Anarosa Ale Mo1io’o, has advised that the following changes in the Retail Petroleum Products Prices will apply from 1″ July, 2023.
All products recorded price decreases; Petrol will decrease by 23.9 sene per litre from $3.40 to $3.16 per litre, Diesel will decrease by 19.3 sene per litre from $3.35 to $3.16 per litre, and Kerosene will decrease by 19.4 sene per litre from $2.98 to $2.79 per litre.
Two months after surprising markets by announcing oil output cuts, officials from OPEC, Russia and other countries meeting in Vienna ponder whether they need to dial down production again. Their goal would be to prop up a market that has turned negative. Oil prices since mid-April have fallen more than 12 per cent.
The main reason for the slump: persistent fears of a slowdown in the global economy that, in turn, has created worries among investors and traders about weaker demand for oil and other commodities.
Retail Prices from 1″ — 31st JULY 2023
Petrol $3.16 per litre
Diesel $3.16 per litre
Kerosene $2.79 per litre
Retail Prices from 1″ — 31st JULY 2023
Petrol $3.16 per litre
Diesel $3.16 per litre
Kerosene $2.79 per litre
