Weaker US dollar means cheaper LPG

Wednesday March 21, 2018 Written by Published in Economy

The Price Tribunal has issued a new price order for Rarotonga and all islands reflecting new prices for petrol, diesel and LPG.

 

There is a fuel price decrease for LPG, but petrol and diesel have had minor increases from the last price order.

A statement from the tribunal said the reason for the 0.40 cent decrease in LPG prices was a major drop in the price of butane and propane originating from Saudi Arabia.

“This has also coincided with a weakened US dollar against the NZ dollar in the same period,” the statement said.

The price order sets the maximum allowable retail prices for petrol, diesel and LPG on Rarotonga and all of the outer islands. Full details of the new prices are contained in the new published price order and can also be obtained from the Consumer Division of the Ministry of Internal Affairs on phone number 29370.

The new prices took effect on March 15 and will remain in force for the next two months.

“Price inspections will be carried out and breach orders will be issued where there is non-compliance,” the statement said.

“Consumers should expect to see the new prices clearly displayed at service stations for these price controlled products. Service stations are obligated to ensure that the new prices come into immediate effect.

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