In Tonga, the price for petroleum will decrease starting from Monday, 20 November 2023.

The Competent Authority (TCA) approved the new retail petroleum prices for November – December.

Wholesale prices

    Petrol decrease by 20.69 seniti/litre
    Kerosene decreases by 17.22 seniti/litre
    Diesel decreases  by14.46 seniti/litre

Retail prices

    Petrol will decrease by 21 seniti/litre to $3.58 (equivalent to 5.54% decrease)
    Kerosene will decrease by 17 seniti/litre to $3.01(equivalent to 5.35% decrease)
    Diesel will decrease by 15 seniti/litre to $3.88 (equivalent to 3.72% decrease)

All changes include consumption tax

The Competent Authority said today that the price change is based on a decrease in the maritime freight rates due to lower demand in key Asian economies, particularly China. The Tonga Pa’anga had also been steady. These factors combined had resulted in a large drop in all product prices

They said that while crude oil prices dropped on a month average, product prices fell more than crude cutting into refining margins for gasoline slumped as shipping economics were unfavorable.

"Crude oil, month-average price dropped for the October compared to September, product prices fell more than crude, particularly petrol."