New petroleum prices for February 2026 have been approved by the Tonga Competent Authority to drop from 2 February.
The Ministry of Trade and Economic Development advised that the price of petrol decreased by 10.00 seniti/litre, kerosene by 15.00 seniti/litre, and diesel decreased by 25.00 seniti/litre.
MTED stated the February 2026 price change is based on the December 2025 average of the published daily Mean of Platts Singapore (MOPS) benchmark prices for product prices and freight, along with that month’s exchange rate.
The changes in the price for February 2026 also attributes to the average Brent crude oil price for December which was US$61.56/bbl which was US$2.10/bbl lower than November.
Petrol Prices decreased from about Mid-December, primarily due to new Chinese export quotas increasing local supply.
Prices started decreasing late November and continued their downward trajectory right through December due to refineries returning to production after maintenance, increased exports from India and the Mideast Gulf to the region, and new Chinese export quotas.
Prices followed the same trends as diesel prices, for the same reasons cited above.
Average freight prices started increasing in mid-November, due to numerous larger ships converting from carrying clean products (such as petrol, diesel and kerosene) to carrying dirty products (like crude oil).
This pushed the products volume onto the smaller ships, creating some tightness for these tankers, leading to regional higher prices.
The Tongan Pa’anga strengthened slightly against the US dollar, with prices decreasing marginally as a result.
Taking into account the combined effects of the above movements, and the updated pricing template approved in the 2025 Annual Petroleum Price Review, is a decrease in retail prices (for Tongatapu) for petrol, diesel, kerosine and power diesel, MTED noted.
