The Acting Minister of Finance, Hon. Leota Laki Lamositele Sio has advised that the following changes in the Retail Petroleum Products Prices will apply from 1st March 2023. 

Petrol will increase by 22.2 sene per litre from $3.03 to $3.26 per litre, Diesel will increase by 3.6 sene per litre from $3.52 to $3.56 per litre and Kerosene will increase by 9.2 sene per litre from $3.11 to $3.20 per litre. 

The international crude and product market continues to be influenced by external political and supply factors. After a significant fall in prices in December, Petrol Prices increased sharply in January, Diesel and Kerosene prices have remained relatively stable. A significant reduction in freight rates and a strengthening of the Tala vis the US$ had a favorable impact on landed costs.

The Figure below shows the price of Petroleum Products in some Pacific Countries such as New Zealand, Australia and Fiji.