Complaint Toll Free: 180 3333

 

The Independent Consumer and Competition Commission (“ICCC”) hereby announces the new retail fuel prices for this month, which will take effect on Tuesday, 08th January, 2019 (January).

According to the ICCC’s calculations, retail prices for petrol, diesel and kerosene will all decrease throughout PNG as of 08th January. The decrease in the retail prices for the three petroleum products is mainly attributed to the decrease in the Import Parity Prices (IPP) for January, and the decrease in the domestic sea freight rates for the first quarter of 2019. The price decrease in the IPP is attributed to the decrease in the Singapore prices for December, 2018 (December) as a result of  the decrease in the crude oil prices as represented by Dated Brent.

However, the extent of the fuel price decrease at the IPP level has been abated by the increase in the international sea freight and the depreciation of the PNG kina against the US dollar during the month of December. Consequently, this price decrease has mainly been attributed to rising US oil inventories.

The domestic retail fuel prices for petrol, diesel and kerosene are inclusive of the IPPs, domestic sea and road freight rates for the first quarter of 2019, the 2019 wholesale and retail margins for petrol, diesel and kerosene; including excise duty for petrol and diesel, and the Goods and Services Tax (GST).

PORT MORESBY

As a result of adding all the various cost components mentioned above, the maximum retail prices for fuel in Port Moresby are as follows:

Port Moresby Retail Prices (toea per litre)

 

Petrol (tpl)

Diesel (tpl)

Kerosene (tpl)

Retail Prices as of 8th January, 2019

      320.51

      303.84

280.36

Retail Prices as of 8th December, 2018

 339.24

331.58

305.92

Price Variance (+/-) toea per litre

-18.73

-27.73

-25.56

 

Retail prices in all other designated centres will change according to their approved in-country shipping and road freight rates (for the first quarter of 2019) that are charged by the fuel wholesalers.

ALL CENTRES

For all centers, the maximum retail fuel prices for each petroleum product in the country will change on average as follows:

  • Petrol prices will decrease by 22.01 toea per litre;
  • Diesel prices will decrease by 31.61 toea per litre; and
  • Kerosene prices will decrease by 29.25 toea per litre.

As part of the ICCC’s enforcement and compliance of fuel prices, its Investigation Officers will conduct inspections at all service stations to ensure prices of petroleum products do not exceed the allowable maximum prices. The following ICCC officers will conduct compliance inspections in Lae, Goroka, Kokopo and Port Moresby. Inspections in other provinces will be supported by our contacts in those provinces. Please note:

  • Mr. Christopher Gabesoa, Mr. Seri Tau Vali, Mr. Dennis Jerry and Mr. Bill Boiu will conduct compliance inspections to all service stations in the National Capital District. They can be reached on telephone number 325 2144;
  • Ms. Pamela Ipambonj and Mr. Timothy Ponau will conduct compliance inspections in Lae. They can be reached on telephone number 472 2859;
  • Mr. Bobby Tei, Roman Rosting and Mrs. Dorcas Baining Julai will conduct compliance inspections in Kokopo, Rabaul, Kerevat, Warangoi and Toma. They can be reached on telephone number 982 9711; and
  • Mr. Kevin Kondo and Mr. Jeffery Khar will conduct compliance inspections in Goroka, Kainantu, Kundiawa and Mt. Hagen. They can be reached on, following mobile numbers 7369 8251/ 7232 4861.

The prices set by the ICCC are the indicative maximum retail prices, for which retailers may choose to sell below the maximum price. The ICCC would like to remind retailers who sell fuel-using pumps to set fuel prices to one decimal place while the ICCC will continue to set the maximum price to 2 decimal places.

No fuel pump operator should charge above the Indicative Retail Price for this month’s price regardless of the number of decimals. This is to ensure compliance with the Prices Regulation Act under which the maximum prices of refined petroleum products are set. Retailers who are displaying prices to 1 decimal place are urged by the ICCC to round the prices down to ensure prices are within the allowable indicative retail prices. The ICCC Inspectors will continue to conduct spot checks after 08th January, 2019, to ensure on-going compliance by fuel operators.

Consumers are advised to report any instances of overcharging by retailers through the ICCC’s Consumer Protection Division on 325 2144, on toll free number: 180 3333 or by contacting our Regional Offices closest to you on the numbers provided above.

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