Fuel prices decrease by between 6 and 7toea

THE prices for petrol, diesel and kerosene in Port Moresby have decreased by between 6toea and 7toea this month.
The Independent Consumer and Competition Commission said the petrol price decreased by 7toea to K3.10 from K3.18 last month.
Diesel decreased also by 7toea to K2.51 from K2.60.
The price of kerosene also went down by 6toea to K2.37 from K2.44.
The commission noted that the decrease in prices were attributed to the decreases in import parity prices (IPP).
Commissioner and chief executive officer Paulus Ain said the decrease in the IPP was attributed to the decrease in the crude oil prices last month.
Ain said as part of the ICCC’s role in enforcement and compliance, officers would conduct inspection of all service stations to ensure that the prices of petroleum products did not exceed the maximum prices approved by the commission.