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Drop in Petroleum prices for the month

Radio & TV Tonga, Nuku’alofa, 16/07/2019

The Competent Authority has approved the new petroleum prices for the month which shows a significantly drop, it the news prices were effective today.

Radio Tonga was in Nuku’alofa this morning and talked with some taxi drivers who expressed their appreciation for the announcement.

Sione Tupou from the Hufanga ki Mo’unga taxi at Longolongo says he is happy because he will be able to earn extra money for his family and also saves more money on fuel.

Sione Pousini from the Talamahu Market taxi who has been working as a taxi driver for 17 years now says, the increase greatly helps him in providing for his family.

Meanwhile the Secretary of the Tonga Competent Authority – Sandradee Fifita says there are 3 conditions the petroleum prices decrease is based on every month.

First is the average of the monthly crude oil, the petroleum prices for July to August is based on the average prices from June that the Crude oil market at Singapore has given.

Second is the payment of the oil tanker and the third is the foreign exchange.

Overall the significant drop in all product prices this month for wholesale, petrol decrease by 15.44 seniti per liter, kerosene for 12.24 seniti per liter and 13.43 seniti per liter for diesel.

The retail price in Tongatapu for kerosene decrease by 12.84 seniti per liter, petroleum and diesel remains the same with the wholesale price.

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