Consumers will now be playing more Liquefied Petroleum Gas after its price have slightly increased.
The new ad-hoc LPG prices were to reflect the LPG Annual Price Review Report 2022 approved by the Tonga Competent Authority on Monday 10 July 2023.
The new retail prices for Tongatapu and Vava’u will increase by TOP 0.03/KG and TOP 0.05/KG.
TCA also advised that Tongan retail prices for all petroleum products remain unchanged except for Kerosene as compared to the price for June – July 2023.
“The retail prices for this month Petrol and Diesel will remain unchanged whereas Kerosene will decrease by 2 seniti/litre to $2.44 (equivalent to 0.81% decrease). All changes include consumption tax.”
The Ministry of Trade and Economic Development, stated that the Petroleum prices for July-August 2023 were mainly determined by the movement of FOB prices in the Singapore, market based on June 2023 average prices of the daily published Mean of Platts Singapore (MOPS) benchmark prices.
Recommended wholesale prices have been calculated, using the Tonga Fuel price template agreed and issued during the 2022 Annual Price Review.
The Tongan Pa’anga has strengthened, hence, the large reduction in international freight cost combined with a stronger Pa'anga has more than offset an increase in the regional product price. The resulting landed product price changes were marginal.