02 July 2020, MOF Announcement. An increase in petrol by 6.6 sene while diesel drops by the same amount sees both commodities settle at below $2 tala per litre for the month of July.
Ministry of Finance records confirm the last time diesel was below $2 tala was back in 2016, for the months of March $1.79, April $1.84 and May $1.99 – before rising again.
When petrol dropped to $1.92 last month, it was the first time in over 10 years it had been below $2 tala per litre. The last time was in January 2009, when petrol was $1.97.
The Minister of Finance, Sili Epa Tuioti announced Samoa’s July 2020 petroleum prices in a press release yesterday.
Petrol goes up by 6.6 sene from $1.92 to $1.98 sene per litre while both diesel and kerosene drop by 6.4 to $1.98 and 1.2 sene to $1.52 respectively
“The Minister has announced an increase in the Retail Price for Petroleum by 6.6 sene .. Diesel will decrease by 6.4 sene.. and Kerosene will decrease by 1.2 sene..”
Impacts of Covid-19 has seen a huge drop of global fuel prices, and Samoa has seen a steady decrease since January 2020, with the steepest drop in May 2020.
The Ministry confirms that, “Whilst the COVID-19 Pandemic has impacted the world economy, OPEC+ agreement to limit crude supply has had the desired effect as crude prices firmed in May”.