Fuel price drops as pandemic hits economy

By DALE LUMA
PUMA Energy country manager and director Hulala Tokome says there will be a reduction in fuel prices from today.
He told The National that prices had been decreasing since the beginning of the year because of the Covid-19’s impact on the economy.
“With regards to prices, we will have another drop in prices tomorrow (today),” Tokome told The National.
“Prices have been sinking since the beginning of the year when the coronavirus pandemic began to impact the economy.
“Since January, unleaded gasoline prices have dropped by more than 30 per cent and diesel by 41 per cent in the same period,” he said.
“We welcome these price reductions which are particularly important to consumers during the pandemic when many are suffering and companies are struggling to survive.”
Tokome said aviation fuel prices had almost halved – with a 46 per cent decrease since January.
“This is very important for the aviation industry which is perhaps hardest hit by the pandemic and has a critical role in Papua New Guinea to keep us all mobile as domestic flight restrictions are lifted and more international routes are opened,” Tokome said.