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Petrol up by 4 cents a litre

Monday May 21, 2018 Written by Published in Economy

Petrol and LPG prices have increased by four cents a unit on Rarotonga and the outer islands, excluding Aitutaki.

 

There’s good news and bad for Aitutaki, where the price of petrol has dropped by six cents a litre.

Diesel, however, has risen by 3 cents a litre and LPG by 2 cents a kilo.

A media statement accompanying the latest Price Tribunal price order said global prices had seen a steady general upward trend, with small dips over the past two months.

Global price fluctuations affect the Cook Islands’ domestic market with a delayed time frame of two to four months. The effect is further impacted by fuel price regulations set in place by the Price Tribunal.

The price order no longer sets a minimum wholesale price for fuel and LPG due to the ending of the government funded Toa Petroleum profit guarantee in December 2017.

The latest prices took effect on May 15.