Source: The National

PRICES of petrol, diesel and kerosene will decrease today, according to the Independent Consumer and Competition Commission (ICCC).
Port Moresby retail prices will decrease from K3.43 to K3.41 per/litre, diesel K2.98 to K2.86 and kerosene K2.89 to K2.86 per/litre.

The new fuel prices would take effect today across the country, Commissioner Dr Billy Manoka said. The final retail cost of all fuel products is also the result of adding all cost components such as Import Parity Prices (IPP), excise duty, domestic freights, wholesale margin and retail margin and Goods and Services Tax (GST).

Retail prices for the three fuel products for other centres in the country will change according to their applicable in-country shipping and road freight rates charged by the oil distributors for the fourth quarter of this year. Commissioner Dr Billy Manoka said all three petroleum products at the IPP level will slightly decreased for this month.