FUEL prices have again changed in two months (August and September) and petrol consumers should to be pleased as this is the second consecutive price reduction in petrol prices.
As of Sept 8, petrol price was decreased by 7.2 toea to its current price of K3.14 per litre for Port Moresby and K3.25 per litre for Lae.
The August price change for petrol was a drop of 1.4 toea per litre so in total, petrol prices have fallen by 8.6 toea per litre.
However, diesel price in Port Moresby is now K2.57 per litre and K2.69 per litre for Lae as a result of an increased by 4.3 toea per litre.
Kerosene price also increase by 6.7 toea per litre for both Port Moresby and Lae, with consumers in Port Moresby having to pay K2.48 per litre and K2.60 per litre in Lae respectively.
In announcing the fuel price changes, commissioner of the Independent Consumer and Competition Commission (ICCC) Thomas Abe urged all fuel suppliers and retailers to reflect the new price adjustments when setting their prices and not to charge above the allowable indicative price levels.
As part of its enforcement and compliance duties, ICCC officers will be conducting inspections at all service stations to ensure compliance with the new prices.

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