The price of petrol and diesel for Tonga will continue to go up by a few seniti for May-June starting on Monday, 18 May.

The new retail prices for petrol, diesel and kerosene, including the consumption tax are:

Petrol 235.54 seniti per litre, a 3.74 seniti increase

Diesel 232.29 seniti per litre, a 1.9 seniti increase

Kerosene 172.75 seniti per litre, a 2.76 seniti increase

The Competent Authority said the prices are mainly determined by the movement of FOB prices in the Singapore market based on April 2015 average prices of the daily published Means of Platt’s Singapore (MOPS) benchmark prices.

Comparing April with March the average prices for crude oil (Dated Brent) was up by USD3.84/bbl (6.9%). Petrol prices also rose by USD2.73/bbl while kerosene and diesel prices increased by USD2.07/bbl and 1.62/bbl.

“The freight rate and the Tongan Pa’anga were steady so most the local price rise is a result of Singapore product prices.”

Meanwhile, the outlook on crude oil prices will likely to remain volatile as crude supply adjusts to the now lower price environment, and the lower prices feed through to stronger product demand.

Product prices are expected to follow crude although petrol price trends remain dependent on the extend of the US demand as its summer driving season approaches.