The Acting Minister of Finance, Honourable Tuala Tevaga Iosefo Ponifasio, has announced new retail fuel prices for October 2024, effective from the 1st of October. All prices have recorded a decrease compared to the previous month.
- Petrol decreased by 18.9 sene per litre, from $3.17 to $2.98.
- Diesel dropped by 18.7 sene per litre, from $3.27 to $3.08.
- Kerosene also decreased by 18.1 sene per litre, from $2.86 to $2.68.
These price adjustments reflect the August 2024 Mean of Platts Singapore (MOPS) marker prices. The ongoing volatility in global oil prices stems from concerns over the Middle East crisis and a downturn in the global economy, driven by lower growth forecasts for China.
The following table provides a comparison of fuel prices across various Pacific countries in Samoan Tala:
| Country | Petrol (WST) | Diesel (WST) |
|---|---|---|
| Samoa | $2.98 | $3.08 |
| Australia | $4.76 | $4.87 |
| New Zealand | $7.19 | $7.32 |
| Fiji | $5.98 | $6.18 |
Fuel prices are expected to fluctuate due to global economic factors, including oil demand and supply dynamics.
