Fuel prices see massive increase

THE retail prices for fuel in Port Moresby this month have experienced a massive increase by 13 toea as compared to last month and previous months’ prices.
Petrol prices have increased to K3.24/litre (4.0% change or 13t), diesel has increased to K2.74/litre (3.7% change or 10t) and kerosene has increased to K2.66/litre (4.1% change or 11t).
Retail prices at all other designated centres will change depending on the applicable in-country shipping and road freight rates charged by the oil distributors for the third quarter.
ICCC Commissioner Dr Billy Manoka is urging all fuel suppliers and retailers not to charge above the allowable indicative retail price level.
As part of its enforcement and compliant duties, ICCC officers will conduct inspections at all service stations to ensure that suppliers comply with the new prices determined, beginning Nov 8.