Petrol, diesel prices lower

PRICES for petrol, diesel and kerosene in Port Moresby have decreased by 18 toea and 27 toea this month.
The price of petrol is down up by 18t to K3.20, from K3.39 last month.
Diesel decreased by 27t to K3.03 from K3.31, compared to last month.
Price of kerosene also dropped by 25t to K2.80, from K3.05 the previous month.
According to the Independent Consumer and Competition Commission (ICCC), the decrease in
the retail prices for the three petroleum products was attributed to the decrease in the import
parity prices for January, and the decrease in domestic sea freight rates for the first quarter of this year.