fuel prices

Air New Zealand chief executive Greg Foran told Checkpoint that the price of fuel "has moved pretty quickly". 

"Over the last few months, we've seen effectively a doubling in price and I've referred to the fact that getting to Los Angeles, it used to cost us just over US$40,000 to fill up a Dreamliner and now it's about US$96,000, so that's seen the price of tickets on average increase around 20 plus percent."

For a drone attack to have knocked half of its - and 5% of the world's - oil supply offline, speaks to the vulnerability of their plants and in turn to the vulnerability of a vital part of the global energy infrastructure.

The Khurais oilfield produces about 1% of the world's oil, and Abqaiq is the company's largest facility - with the capacity to process 7% of the global supply.

Questions being asked centre on why this attack could not have been prevented by a company with such deep pockets and whether it can happen again.

New prices were approved by the Tonga Competent Authority.

“Overall there is large drop in all product prices this month, a great news to all Consumers,” said Ministry of Commerce, Consumer, Trade, Innovation & Labour Chief Executive Officer, Edgar Cocker.

The wholesale price for petrol, kerosene and diesel has decreased by 14.26 seniti/litre, 19.14 seniti/litre and 20.58 seniti/litre respectively.

Retail prices for petrol, kerosene and diesel for Tongatapu only are 242.78seniti/litre, 181.91seniti/litre and 260.41seniti/litre respectively.

Petroleum prices for July – August have fallen with the wholesale price of diesel and kerosene down by 8.35 seniti/litre and 9.02 seniti/litre respectively.

Petrol recorded the largest decrease of 9.53 seniti/litre.

The retail price will be 239.57seniti/ litre for petrol, 235.61 seniti/litre for Diesel and 156.58 seniti/ litre for Kerosene.

A statement from the Ministry of Commerce, Consumer, Trade, Innovation & Labour said all price changes include consumption tax.

The new prices were approved by the Tonga Competent Authority.

The retail price for Petrol has decreased by approximately -4.93 seniti/litre to a new price of 232.97 seniti/litre.

Diesel has also decreased by -3.82 seniti/litre to a new price of 227.79 seniti per litre.

The retail price for Kerosene has dropped by -2.42 seniti/litre to a new price of 160.55 seniti per litre. All the changes include consumption tax.  

The new rates for November-December 2915 were approved by the Tonga Competent Authority (TCA) and came into effect yesterday.