Fuel prices increase significantly [1]
Thursday, May 17, 2018 - 21:25
Fuel costs have increased significantly after higher petroleum prices were made effective yesterday Wednesday 16 May by the Tonga Competent Authority (TCA).
For Tongatapu, the retail price of petrol is now 275.51 seniti/litre ($2.75 Pa’anga) up from 248.67 seniti/litre ($2.48 Pa’anga). The retail price of kerosene is now 203.74 seniti/litre ($2.03 Pa’anga) up from 167.03 seniti/litre ($1.67 Pa’anga).
Wholesale fuel prices have all increased significantly: petrol prices increased by 8.20seniti/litre, kerosene prices increased by 11.58seniti/litre, and diesel prices increased by 11.30seniti/litre.
The Ministry of Commerce, Consumer, Trade, Innovation & Labour (MCCTIL) announced the new fuel costs on Tuesday 15 May. The Ministry stated that the higher prices reflect strong global petroleum demand in the face of continued production restraint by OPEC countries.