Retail Petroleum Prices Drop for August

Apia, Samoa – 01 August 2024 – The retail prices for petrol, diesel and kerosene all drop for the month of August.

Petrol decreases by 35 sene a litre from $3.46 to $3.11.

Diesel decreases by 21.2 sene per litre from $3.46 to $3.25 and kerosene is down by 17.1 sene a litre from $3.05 to $2.88 for August.

A statement from the Minister of Finance last night said the prices are based on the June 2024 Mean Platts Singapore (MOPS) marker prices.

The Organisation of the Petroleum Exporting Countries (OPEC) and allied producers have maintained the supply cuts introduced last year, in part to compensate for rising output from the United States and other non-OPEC producers.

With the added geopolitical uncertainties, it can reasonably be expected that the erratic nature of pricing will continue.