Fuel price up in New Year
The New Year has ushered in an increase in fuel prices across the board.
Price of petrol will increase by 4.2 sene per litre from $2.88 to $2.92 per litre, diesel will increase by 8.4 sene per litre from $2.99 to $3.08 per litre and kerosene will increase by 10.5 sene per litre from $2.61 to $2.71 per litre.
According to the Minister of Finance Lautimuia Uelese Vaai, January prices are based on the November 2024 Mean of Platts Singapore 'MOPS' marker prices and US$/ SAT rates.
“The US election result and other external factors had minimal impact on world prices, however, the TALA depreciated by 1.6 per cent against the US dollar offsetting the price reductions in product and freight costs.,” said Lautimuia.