The Tonga Competent Authority (TCA) has approved new petroleum prices for November 2024, effective from Friday, 1st November.
The new prices see a decrease in the cost of wholesale petrol, which will drop by 1.20 seniti per litre, kerosene by 1.18 seniti, and diesel by 1.75 seniti.
However, diesel power will see a slight increase of 0.5 seniti per litre.
These changes reflect a combination of international price drops and reduced freight costs, with all prices including consumption tax.
This follows the Annual/Triennial Petroleum Review, which was finalized last month.
As part of the review, the TCA adjusted the pricing schedule to reflect a longer supply chain and align with Fiji’s pricing system.
Prices will now be reviewed monthly, starting on the 1st of each month.
The review aims to stabilize Tonga’s energy pricing while addressing global market fluctuations.