Fuel prices fall in Sept

 PRICES for petrol, diesel and kerosene have all decreased this month due to fall in the prices for middle and light distillates, according to the Independent Consumer and Competition Commission (ICCC).

Petrol in Port Moresby is now being sold for K2.89 per litre, down from K3.08, and diesel is going at K2.18 per litre, down from K2.33.

The new retail price for kerosene is K2.09 per litre, down from K2.25.

ICCC chief executive officer Paulus Ain said the depreciating PNG Kina-US dollar exchange rates, taxation and the increase in domestic sea freight rates for this quarter had lessened the extent of the decreases at the pump price for the three petroleum products.

Ain said ICCC would conduct inspections at all fuel stations starting today to ensure service providers sold petroleum products at the approved prices.