Fuel price crackdown
The National, Thursday January 9th, 2014
INDEPENDENT Consumer and Competition Commission (ICCC) will conduct inspections at all service stations starting this month to crack down on fuel price violation.
Commissioner and chief executive Dr Billy Manoka yesterday urged all fuel suppliers and retailers to set their prices within January’s retail price level.
He said retail prices of petrol, diesel and kerosene in Port Moresby had increased this month.
“Prices for all three products at the import parity prices (IIP) level had increased this month.
“The increase in the IPP for all petroleum products for this month are attributed by the increase in the Afra rate and increase in the domestic sea and road freight rates for the first quarter of this year.
“Crude oil prices have also increased on average during the month, thus adding to the gradual slight increase of the petroleum product prices,” he said.
The price of petrol increased by K0.05 to K3.93 per litre compared with K3.88 per litre last month.
Diesel and kerosene prices have increased by K0.03 and K0.04 respectively.
Diesel is now selling for K3.53 per litre from K3.50 per litre and kerosene is K3.43 per litre from K3.39 per litre.
Manoka said retail fuel prices at designated centres would change according to their applicable in-country shipping and road freight rates charged by the oil distributors. for the first quarter of this year.