Petrol, diesel, kerosene prices jump across PNG

Papua New Guinea is experiencing a sharp rise in fuel costs, with new prices taking effect from Wednesday as announced by the Independent Consumer and Competition Commission (ICCC).

The increase follows developments in the Middle East that have disrupted global oil supply, pushing international prices upward and impacting import-dependent countries like PNG.

 Petrol, diesel, kerosene prices jump across PNG

In Port Moresby, motorists will now pay K6.10 per litre for petrol, while diesel has climbed to K7.77 and kerosene to K7.45 per litre under the latest adjustment.

These new rates mark a steep jump from March, when petrol was sold at K4.40 per litre, diesel at K4.45 and kerosene at K4.09.

The ICCC indicated that petrol has increased by K1.70 per litre, while diesel and kerosene recorded larger rises of K3.32 and K3.36 respectively.

The commission attributed the surge to a spike in global oil prices during March, driven in part by the closure of the Strait of Hormuz, a key shipping route for petroleum exports.

It said Papua New Guinea’s reliance on imported fuel means any disruption to global supply chains quickly flows through to domestic markets, adding that maximum retail prices in other centres will be adjusted in line with the changes observed in Port Moresby.