Economy

Petrol & Diesel Prices down by 60 sene a litre for September

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APA, SAMOA – 02 SEPTEMBER 2022: Motorists are finding a breather with the September fuel prices down by at least 60 sene a litre for petrol and diesel.

The Maximum Retail Prices were announced by the Minister of Finance, Mulipola Ale Molioo with:

  • Petrol down by 62.8 sene a litre from $4.36 last month to $3.74.
  • Diesel decreases by 60.5 sene a litre from $4.69 last to month to $4.09 per litre and
  • Kerosene is down by 56.1 sene a litre from $4.24 last month to $3.68 a litre.

The Minister said the impact of the Russian and Ukraine war was the main cause for the increases in crude oil and fuel product prices due to concerns regarding the continuity of supply, and is now just one of the elements that is causing concern that the worlds’ economies are moving into a recession. The scenario of lower demand for Crude oil has seen prices fall by over $30 USD per barrel since the high prices in June.

Meanwhile, the Ministry of Finance provided the following figure comparing fuel prices in some Pacific countries such as Australia, Fiji and New Zealand.

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