Fuel Prices Drop for November 2020

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Fuel Price Notice The Minister of Finance, Hon. Sili Epa Tuioti has advised decreases in retail petroleum product prices, to apply from 1st November 2020.

The Retail Price for Petrol will drop by 2.8 sene from $2.21 to $2.18 sene per litre.

Diesel will decrease by 9.3 sene from $2.15 sene to $2.06 per litre, and Kerosene will decrease by 8 sene from $1.70 sene to $1.62 per litre.

Falling product prices and freight costs and a favorable movement in the TALA against the US dollar in September have all combined to reduce Samoa’s prices for the month of November.

World demand for crude oil has fallen as the impact of the COVID19 pandemic impacts economic activity through-out the world.

BP and Shell are charting a dramatically new course for the industry, pledging to eliminate their greenhouse gas emissions, slash spending on new oil and gas projects, and pump money into renewables and other low-carbon ventures.

The Figure below shows the price of Petroleum Products in some Pacific Countries such as New Zealand, Australia and Fiji.