PRESS STATEMENT: ANNOUNCEMENT OF FUEL PRICES – MAY 2026

CLARIFICATION ON THE ANNOUNCEMENT OF FUEL PRICES FOR MAY 2026

The Independent Consumer and Competition Commission (ICCC) noted that there was a misinterpretation on the fuel price for May 2026 announced yesterday (7^th May 2026).

While the intention was to show the fuel prices with and without the Government subsidy arrangement, it appears that the message was not conveyed as intended.

For clarity, please note that there has been no change in the Indicative Retail Prices (IRP) since the prices were reset to March 2026 levels pursuant to the Government’s Fuel Relief Assistance measures.

Accordingly, the applicable IRP for May 2026 remains unchanged, as reflected in Table 1 below:

Table 1. May 2026 Fuel Prices, Kina per Litre, for Port Moresby only

Similarly, the IRP in all other centres remain unchanged as observed for Port Moresby until further notice.

The ICCC urges fuel importers, distributors, wholesalers, and retailers to comply with the price reset, which took effect on 08^th May 2026 at 12:00AM.

The ICCC, in collaboration with PNG Customs Services, the Internal Revenue Commission (IRC), the Bank of Papua New Guinea (BPNG), and the Department of Treasury, will undertake ongoing compliance, monitoring, and enforcement activities to ensure that the benefits of the Fuel Relief Assistance are fully passed through to final consumers.

The ICCC will also conduct inspections and investigations, and where necessary, take appropriate enforcement action against any individual or business found to be non-compliant or acting in breach of the Prices Regulation Act, Chapter 320.

All enquiries should be forwarded to the Prices Regulation Division on telephone 312 4600 or via email; tvue@iccc.gov.pg or infor@iccc.gov.pg respectively.