Home / PRESS RELEASE / ENGLISH VERSION / New LPG Prices for March – June 2018

New LPG Prices for March – June 2018

E-mail Print PDF

15th March, 2018 The Ministry of Commerce, Consumer, Trade, Innovation & Labour wishes to advise that the Tonga Competent Authority (TCA) has approved the new LPG prices for March – June 2018 to be effective from Friday, 16th March 2018.

Saudi CP Butane prices continue to fall this quarter despite firm demand. Increasing production from US shale oil and gas (LPG is produced as a by-product) is boosting supply of LPG which is putting downward pressure on prices. Overall, the quarterly average butane price was up to USD 548/tonne, one percent lower than the previous quarter’s average.

While Saudi CP Prices have reduced slightly, the exchange rate has weakened and combined both factors have increased LPG prices locally. This quarter’s prices are also influenced by the 2017 LPG Annual review, resulting in an increase in LPG retail prices by 2 seniti/litre. Furthermore, the annual review decisions due in December were delayed until late January and the Competent Authority approved an ad-hoc review of LPG prices in mid-February but was not implemented due to Tropical Cyclone Gita. Therefore LPG prices approved to be effective from 16th March – June has incorporated the approved template and suppliers recovery from December – February.

Overall in this quarter, Tongatapu and Vava’u retail prices increases by 09seniti/litre and 18seniti/litre respectively. Vava’u prices increases more than Tongatapu having received a parcel when prices were high (December with a USD 570/mt Saudi CP price).

The table below shows the new LPG prices for Tongatapu and Vava’u. All prices includes consumption tax.

ENDS

For further information please contact the Ministry of Commerce, Consumer, Trade, Innovation & Labour on telephone 23688

Last Updated ( Friday, 16 March 2018 13:41 )  

Who's Online

We have 212 guests online

CONSULATES/EMBASSIES

PUBLIC ENTERPRISES