The price of petrol, diesel and kerosene has continued to increase for June-July.

The new retail prices for petrol, diesel and kerosene, including the consumption tax to be effective on Tuesday, 16 June.
are:

Petrol 250.08 seniti per litre, a 14.46 seniti increase

Diesel 243.21 seniti per litre, a 10.06 seniti increase

Kerosene 184.06 seniti per litre, a 11.31 seniti increase

The Competent Authority said the prices for June-July were mainly determined by the movement of FOB prices in the Singapore market based on May 2015 average prices of the daily published Means of Platt’s Singapore benchmark prices.

Comparing May with April the average prices for crude oil (Dated Brent) was up by USD4.56/bbl (7.6%). Regional product prices all rose ahead of crude with petrol prices showing the highest increase of USD8.03/bbl while kerosene and diesel rose by USD5.61/bbl and USD5.65/bbl.

The freight rate also strengthened and the Tongan Pa’anga depreciated, contributing to further rises in local prices, said Tonga's Competent Authority in approving the new prices.

Crude oil prices continued to increase into early May despite plentiful supply and high stock builds.

The Dated Brent averaged USD64.32/bbl in May, which is about 7.6% higher than April.