Tomorrow, Thursday 1 May, retail prices for petrol, kerosene and diesel will decrease by 10 seniti/litre to $3.20/ litre in Tongatapu, as approved by the Tonga Competent Authority (TCA).

The Ministry of Trade and Economic Development reported that the May 2025 price change is based on the March 2025 average of the published daily Mean of Platts Singapore (MOPS) benchmark prices for product prices and freight, along with that month’s exchange rate.

The recommended wholesale prices have been calculated using the 2024 Annual Review decisions approved by the TCA on 10 October 2024. Crude oil prices have dropped by USD 3.54/bbl between February and March this year. With the average crude price falling, petrol, kerosene and diesel prices in the Asia-Pacific region followed the trend and all decreased.

“Specifically, petrol supplies initially increased early in the month due to more Chinese supply reducing prices, however an unplanned refinery outage saw prices increase over the second half of March. Diesel prices similarly fluctuated for different reasons, initially decreasing due to tensions in the Red Sea resulting in more supply staying in the region. Costs for MR tankers into Australasia increased sharply by mid-March due to escalating tensions in the Red Sea causing diversions to resume.”

The Ministry stated that while decreasing crude oil prices is the primary driver behind the decline in all product prices for March, the Tongan Pa’anga has continued to strengthen slightly against the US dollar further contributing to the price decreases.

The combined effects of lower international prices more than offsetting an increase in freight rates, and a stronger pa’anga, retail prices of petrol, kerosene and diesel for Tongatapu will drop by 10 seniti/litre to $3.20/litre, $2.45/litre and $3.25/litre respectively.