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