The Minister of Finance, Hon. Lautimuia Afoa Uelese Vaai, has announced the updated retail fuel prices effective from 1st June 2024.
The prices for various petroleum products have seen minor increases this month. Below is a detailed comparison of the prices in Samoa and other Pacific countries:
New Retail Fuel Prices in Samoa
- Petrol (ULP): $3.46 per litre (increased by 9.9 sene from $3.36)
- Diesel (ADO): $3.46 per litre (increased by 1.3 sene from $3.45)
- Kerosene: $3.05 per litre (increased by 0.1 sene)
These price adjustments are based on the April 2024 Mean of Platts Singapore (MOPS) market prices. The Ministry highlighted that while crude oil and refined product prices have stabilized over the past three months, various external factors continue to cause fluctuations. Petrol prices typically rise as the northern summer increases car travel, whereas diesel prices react to global economic growth reports.
Comparative Fuel Prices in the Pacific
The table below compares Samoa’s new fuel prices with those in New Zealand, Australia, and Fiji as of May 2024:
| Product | Price in Samoa (Tala) | Price in Australia (WST) | Price in New Zealand (WST) | Price in Fiji (WST) |
|---|---|---|---|---|
| Petrol (ULP) | 3.46 | 3.53 | 5.00 | 3.57 |
| Diesel (ADO) | 3.46 | 3.61 | 5.02 | 3.216 |
In comparison to neighbouring countries, Samoa’s fuel prices remain competitive. The table above shows that Samoa’s prices for petrol and diesel are lower than those in New Zealand and Australia but comparable to or slightly lower than those in Fiji. This alignment ensures that Samoa remains in a favorable position within the regional market.
These adjustments aim to maintain a balance in the market, ensuring that the prices reflect current global trends while being fair to consumers.
For further details on the fuel price adjustments and to understand the implications for consumers and businesses, you can visit the Ministry of Finance’s official website.