Fuel prices in Samoa will increase across the board, effective today.
As announced by the Minister of Finance Sili Epa Tuioti, petrol is up by 10.5 sene per litre from $2.30 to $2.41; diesel is up by 6.6 sene per litre from $2.26 to $2.33 and kerosene is up by 6.2 sene from $1.90 to $1.96 per litre.
According to the press release, crude oil and petroleum product prices have continued to increase for the 4th straight month.
“Positive Covid-19 vaccine announcements are driving economic confidence, this in turn has led to expectations of higher demand for crude and refined products”.
Impacts of the global pandemic has seen a huge drop in global fuel prices, and Samoa has enjoyed the lowest rates in many years.
When petrol dropped to an all time low of $1.92 in June last year, it was the first time in over 10 years it had been below $2 tala per litre. The last time being January 2009, when petrol was $1.97 per litre.
When diesel dropped to $1.98 in July last year, it was the first time it had gone below $2 tala since 2016 as shown in Ministry of Finance records, when it registered at $1.79 for March, April $1.84 and May $1.99 per litre.
A comparison with New Zealand, Australia and Fiji shows Samoa’s current prices comparably on par or less than our Pacific neighbors.