Fuel prices for December 2023 will drop to bring much-needed relief to Samoa's motorists as the country counts down to the end of another year.

In a media statement released after 8 pm on Thursday night, the Minister for Finance, Lautimuia Afoa Uelese Vaai announced that effective Friday 1 December 2023, there will be decreases for all petroleum products sold in Samoa.

He said the price of petrol will drop by 28.6 sene per litre from SAT$3.52 to SAT$3.23, diesel will also drop by 25.6 sene per litre from SAT$3.83 to SAT$3.57 and kerosene will decrease by 25.5 sene per litre from SAT$3.47 to SAT$3.21. 

According to the Finance Minister, while December prices are based on October MOPS market prices, the Samoa government also acknowledges that crude oil and refined product prices fell during October amid concerns the world economy was entering a downward phase which overrode the impact of OPEC+ crude oil supply cutbacks and the Russia Ukraine war. 

Whilst the Israel and Hamas conflict initially caused a rise in petroleum product prices, Lautimuia said in the statement that the overall October average prices were well below the September numbers.

Markets around the world a reporting a dip in petroleum product prices with some global experts blaming the festive season for the dropping demand for road use with most families opting to stay home for the holidays rather than get out and about. Prices for fuel products in overseas markets have been dropping since November.