Petroleum prices have decreased starting today Monday, July 17 approved by the Tonga Competent Authority (TCA) for July to August.

The petroleum prices fell with the wholesale price of diesel and kerosene by 8.35 seniti per litre and 9.02 seniti per litre each. Petrol recorded the largest decrease of 9.53 seniti per litre.

The retail price is 239.57seniti per litre for petrol, 235.61 seniti per litre for diesel and 156.58 seniti per litre for kerosene, all including consumption tax.

TCA says this is due to the freight rate being steady while the Tongan pa’anga has strengthened about two percent against the U.S dollar.

Together with lower regional product prices, the stronger exchange rate means that local prices have fallen a reasonable amount.

In addition, crude oil had continued to drop in June with rising supply resulting in crude being held into floating storage.