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Fuel prices drop for July August period

Radio & TV Tonga, Nuku’alofa, 18/07/2017

 

Retail Prices for petroleum products for July and August has dropped by an average of about 9 seniti per litre.

 

The new prices effective as from Monday July 17th covers motor spirit, diesoline and kerosene for all the main Islands of the kingdom.

 

In Tongatapu, maximum retail price for petrol is about TOP$2.40, a drop from TOP$2.52

 

New retail price for diesoline is TOP$2.36 seniti per litre and kerosene is TOP$1.57

 

Wholesale prices for these petroleum products also decrease in Tongatapu with petrol going down to TOP$2.24 per litre and TOP$2.20 for diesoline.

 

Wholesale price for kerosene has dropped to TOP$1.50 per litre.

 

When these products are sold throughout the outer islands up to the Niuas, the retail prices also drop by more than ten seniti per litre from the former prices.

 

However, price ranges for both retail and wholesale prices is to a maximum of seventy seniti difference from the prices imposed for Tongatapu.

 

This is due mainly to the distance between the Islands and Tongatapu for transportation costs.

 

The competent authority says the freight rate has been steady while the Tonga pa’anga has strengthened by about 2% against the US dollar

 

The price for crude oil continued to drop in June while supply rose into floating storage.

 

The international crude oil prices dipped to a seven month low driven by the low European and Asia Pacific demand, as well as rise in availability of crude oil from Africa.

 

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