Showing posts with label Petrol Price. Show all posts
Showing posts with label Petrol Price. Show all posts

Petrol Price: 10 Percent Increase Early 2018 to K3.50 Per Litre, Port Moresby

Petrol price has increased by 7.27% in 5 months to December 2017. The increase may have looked small, but it isn't. Here is how much less petrol a customer gets since September 2017 - 2 Litres *less* on a full tank refilled.

At the current trend,  petrol users are likely to pay a 10% increase as early as January 2018. The table shows the price of petrol between September and December from a Service Station in Port Moresby. *Prices are based on actual receipts, dated.

January 2018 petrol price based on the average increase projected

Petrol price was fairly stable in September, but started increasing on the second week of October. 

The bar graph shows the exponential increase of over 7% between September and December 2017 and 9% to January 2018.

In fact, when a consumer refills petrol in December, (and at 7% increase), they get  70 millilitres *less* for every Litre of petrol (bought at K3.432 per Litre) compared to the September and 10th October 2017 price (K3.195 per Litre). That means that:
  • For 10 Litres of petrol, consumers get 700 mL *less*;
  •  A near-full tank of approximately 30 Litres, the customers get 2100 mL *less*, that is 2.1 L less!
By January next year consumers are likely to pay K3.50 per Litre of petrol - the highest petrol price. And, users will realise how less petrol they get. K3.50 is a conservative estimate.

There is a need to find out why the price is increasing and whether the increases (in October, November and December) have been monitored.