The Minister of Finance, Afioga Mulipola Anarosa Ale Molio‘o has advised the following changes in retail petroleum product prices to apply from the 1st September 2021
The Minister announced an increase in the retail Prices for Petrol by 8.21sene per litre from $2.77 to $2.85, an increase for Diesel by 2.37 sene per litre from $2.65 to $2.68 and for Kerosene will increase by 3.63 sene per litre from $2.28 to $2.31.
According to a press release from the Ministry of Finance the market prices for September 2021 are based on July MOPS (Means of Platt Singapore)
Higher crude and product prices and further weakening of the tala vis the US$ are the major factors behind the increases.
The crude/product market remains volatile as the COVID pandemic has a negative impact on the world economy.