CITC Kavera’s Teinakore-O-Koroa Murare filling car with petrol late last month after receiving fresh supplies following a petrol shortage in December. Picture: CAMERON SCOTT/22121803
The Price Tribunal has announced another drop in petrol prices.
The latest order, which
arrived on Thursday, sets the maximum petrol price in Rarotonga for consumers
at $2.89 per litre, and in Aitutaki at $3.18 per litre, while for the rest of
the Southern group islands, it is set at $3.71 per litre, and $3.86 for the
Across the board, this has
been a drop of about three to five per cent for consumers from the previous
price order in the Cook Islands.
However, there have been some
movements in diesel prices, with the maximum allowable price increasing
slightly to $3.27 per litre in Rarotonga, and dropping slightly in Aitutaki to
$3.42 per litre. In the Northern group of islands, diesel prices increased to
$4 per litre, and in the Southern group to $3.90 per litre. In both cases, the
increase was about three per cent.
Meanwhile, the wholesale price
of petrol has dropped from $2.72 per litre to $2.61 per litre, while diesel has
increased from $2.87 per litre to $2.99 per litre.
Toa Petroleum owner Brett
Porter said the drop in petrol prices was to be expected, as it reflected
trends in international markets.
“But the good news is that no
one has been disadvantaged by this price order, because everyone in the Cook
Islands is getting their fuel from the same market,” Porter said.
Pandanus Petrol worker Jason
Raul said he had expected the price to move downwards.
“We’ve been looking elsewhere
and we expected some movement downwards,” Raul said.
“We will be expecting more
customers as a result as they take advantage of the cheaper petrol.”
Prime Foods general manager
Daniel Forsyth said it was a surprise, but “petrol costs don’t affect us too
“The real costs for us are the
ocean freight. We would love to see those prices drop, but so far there have
been no signs of it,” Forsyth said.
Price Tribunal chairman Louis
Enoka was unavailable for comment yesterday.
However, during the previous
price order in November 2022, he encouraged consumers to be wary.
“There’s been a drop in petrol
prices but still treat petrol like it’s going to become expensive again very
soon,” he said in November.
“However, the real concern is
that shipping and handling costs across the board have increased for all
commodities, and given how much we ship in, that’s going to be a big issue