Ministry of Commerce: Wholesale and Retail of Petroleum Product Notice

PRESS STATEMENT

As required under the Price Control Act 1982 (Cap 64):

The Ministry of Commerce, Industries, Labour & Immigration after consultation with the Prices Advisory Committee has set the following maximum wholesale and retail of Petroleum Products in Honiara to take effect on 1^st October 2023.

WHOLESALE

(Maximum price in S.I cents per liters)

RETAIL

(Maximum price in S.I cents per liter

PETROLEUM PRODUCTS

     (A)  Petrol – (MOGAS) – 975.11 1206.4

     (B)  Distillation – (ADO) – 1048.72 1291.0

     (C)  Kerosene – (KERO) – 953.58 N/A

Note: Kerosene sells direct from the pump at the service stations, maximum retail price of 1287.3 cents per liter.

Goods tax plus Retailers margin and sales tax included in the retail Calculation.

These prices were mainly reflected on the movement of MOP’s prices of Platt’s Singapore.

There’s a slightly increase on the prices of all three petroleum products for Diesel, Kerosene and Petrol and compared to last month fuel process.

Considering the MR tanker costs, freight rate related costs and fluctuation currency against (SBD) dollar.

Diesel increases by 5.89 %

Kerosene increases by 7.16%

Petrol increases by 4.04% compared from last month’s average fuel prices.

Please direct any queries you may have concerned the above process to: –

Edward Bamu

Secretary to Prices Adversory  Committee (PAC)

For: Permanent Secretary

MINISTRY OF COMMERCE, INDUSTRIES, LABOUR & IMMIGRATION