Petrol prices up for March

Apia, SAMOA – 01 March 2024 – Local retail prices for petroleum products have gone up for March. Petrol increases by 11.8 sene a litre from $3.12 last month to $3.24. Diesel increases by 10.6 sene a liter from $3.32 last month to $3.43 and Kerosene  increases by 4.1 sene a litre from $2.98 to $3.43 this month.

A statement from the Minister of Finance says the Samoa March prices are based on January 2024 Means of Platts Singapore ‘MOPS’ market prices.

Market analysts highlight that the increase in prices reflect buyers concerns that crude oil supplies could be further disrupted due to the Gaza conflict and attacks on commercial shipping in the Middle East region.

The Ministry of Finance also provided the following figure showing comparative prices of petroleum products in other Pacific countries such as Australia, Fiji and New Zealand.