New petroleum prices approved by the Tonga competent Authority, have seen significant increases across Kerosene, Diesel and Petrol. The increases have been approved for mid-September to mid-October, effective from 16 September.

Kerosene prices have been increased by 3.42 seniti/litre (wholesale) and 3.66 seniti/litre (retail). Diesel prices have increased by 4.85 seniti/litre (wholesale) and 5.20 seniti/litre (retail). Petrol prices recorded the largest increase, up 8.66 seniti/litre (wholesale) and 9.21 seniti/litre (retail).

Prices for Liquefied Petroleum Gas (LPG) increased for Tongatapu by $3.38 (wholesale) and $3.82 (retail). LPG prices increased for Vava’u by $3.40 (wholesale) and $3.84 (retail).

All price changes include consumption tax. Freight rates have strengthened, increasing the cost of shipping to Tonga.

Worldwide, Crude oil prices have so far maintained an upward trend this month. The trend has been credited to a strong demand from the Asia Pacific region and a continuing fall in US oil inventories. Supplies are steady despite solid demand growth. Prices for petroleum products have increased in the US recently due to the impact of Hurricane Harvey in the US Gulf coast. 

The Dated Brent averaged USD 51.64/bbl which is USD 3.08/bbl higher than July.