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Apia, Samoa – August 1, 2024 – Retail prices of petrol, diesel and kerosene all fell in August.
Petrol prices fell by 35 shillings from $3.46 to $3.11 a litre.
In August, diesel prices dropped from $3.46 per litre to $3.25, a decrease of 21.2 shillings, while kerosene prices dropped from $3.05 per litre to $2.88, a decrease of 17.1 shillings.
The prices are based on the average Singapore MOPS benchmark price for June 2024, the finance minister said in a statement last night.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies have maintained supply cuts implemented last year, partly to compensate for increased production from the United States and other non-OPEC producers.
As geopolitical uncertainty increases, it is reasonable to expect that the volatile nature of pricing will continue.
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