In a recent announcement, the Minister of Finance, Hon. Lautimuia Afoa Uelese Vaai, confirmed that there will be no changes to the retail prices for petrol, diesel, and kerosene for the month of July 2024. The retail prices set in June will continue through July, offering stability for consumers amidst fluctuating global fuel prices.
Retail Fuel Prices for July 2024:
- Petrol (Unleaded): $3.46 per litre
- Diesel: $3.46 per litre
- Kerosene: $3.05 per litre
The decision to maintain the current fuel prices comes as a relief to many Samoan households and businesses, who have been closely monitoring fuel price trends. The Ministry of Finance assures that this measure aims to provide economic stability and predictability for the country’s residents.
Comparative Analysis:
A comparative analysis of fuel prices across several Pacific nations highlights Samoa’s standing:
| Country | ULP (SAT) | ADO (SAT) |
|---|---|---|
| Samoa | $3.46 | $3.46 |
| Australia | $3.21 | $3.34 |
| New Zealand | $4.39 | $3.36 |
| Fiji | $3.77 | $3.22 |
ULP: Unleaded Petrol
ADO: Automotive Diesel Oil
While Samoa’s fuel prices are higher compared to Australia and Fiji, they remain lower than those in New Zealand for unleaded petrol. For diesel, Samoa’s prices are on par with New Zealand but higher than those in Fiji.
Government’s Perspective:
Hon. Lautimuia Afoa Uelese Vaai reafirms that the government’s commitment is to ensure the least possible financial burden on Samoan citizens while maintaining a steady supply of essential commodities. “Our aim is to shield our people from global economic fluctuations and provide stability in daily living costs,” he stated.
Tau o suau’u mo Iulai 2024