Petrol price drops slightly [1]
Wednesday, September 18, 2013 - 14:51
New fuel prices announced for September-October will see a decrease in the price of petrol for the first time in months. Prices for diesel and kerosene, however, continue to rise.
The new retail prices for September-October 2013, which were effective from Monday 16 September 2013 are:
- Kerosene - $2.37 Seniti per litre (increase from $2.30)
- Diesel - $2.96 Seniti (increase from $2.94)
- Petrol - $2.85 Seniti (reduction from $2.90)
Petrol prices decreased as a result of the benchmark prices dropping due to abundant regional supply and expectations of the usual seasonal drop in demand.
Crude prices are expected to remain high with tight supply due to production disruptions in North Africa and the prospect of an attack on Syria. However, product prices may not match up to crude increases due to lower global demand, rising supplies and higher inventories, according to the Ministry of Commerce, .