New Petroleum prices were approved last Wednesday, 16 August 2017, by the Tonga Competent Authority. The wholesale/retail price of Petrol and Kerosene decreased while the price of Diesel increased.

The wholesale prices decreased for Petrol (by 1.78 seniti/litre) and Kerosene (by 3.08 seniti/litre) while Diesel wholesale prices increased by 1.75 seniti/litre.

The retail prices decreased for Petrol (by 1.91 seniti/litre), Kerosene (by 3.29 seniti/litre) while retail prices for Diesel increased by 1.87 seniti/litre.

Crude oil prices were mixed during July although on average were higher than the previous month, with Dated Brent averaging USD 48.56/bbl which was USD 2.04/bbl higher than June.

The freight rate has strengthened increasing the cost of shipping to Tonga. The Tongan Pa’anga continued to strengthen (about two percent) against the US dollar, offsetting some of the gain in product prices.