Consumers in Tonga will be paying more for petrol, diesel and kerosene.
Wholesale petrol, kerosene and diesel prices have increased by 3.88 seniti/litre, 8.69 seniti/litre and 9.62 seniti/litre respectively. All price changes include consumption tax.
Retail petrol, kerosene and diesel prices on Tongatapu are $3.01 per litre, $2.07 per litre, and $2.94 per litre respectively.
The increase in prices was approved by the Tonga Competent Authority.
According to the TCA, the new prices are the maximum prices allowable for petrol, kerosene and diesel. The authority said the price increase is due to an increase in overseas pricing.
Tonga’s monthly petroleum prices are based on a one month lag. Comparing the October (September month average prices) with the September petroleum prices (August month average prices):
Crude oil (Dated Brent) was up by USD 4.36/bbl (6.2%);
Petrol was up by USD 3.09/bbl (3.8%);
Kerosene was up by USD 5.82/bbl (7.9%); and
Diesel was up by USD 6.40/bbl (8.4%).
The freight rate also reduced by 7.2 percent and the Tongan Pa’anga has been steady over the month.