Fuel prices across PNG drop for January as ICCC announces reductions

 Motorists across Papua New Guinea will see lower fuel prices from Thursday, January 8, following the Independent Consumer and Competition Commission’s announcement of reduced indicative retail prices for petrol, diesel and kerosene for the month.

The ICCC said all three regulated fuel products will fall on average nationwide, bringing some relief to consumers at the start of the year, with Port Moresby recording noticeable price adjustments compared to December.

According to the commission, the decrease is linked to weaker international demand for refined petroleum products, influenced by easing tensions in Eastern Europe and slower economic activity in China, which have pushed down import costs.

In Port Moresby, the maximum retail price for petrol will drop from 442.07 toea per litre to 438.39 toea. Diesel will fall sharply from 437.73 toea per litre to 420.35 toea, while kerosene will decrease from 413.53 toea to 391.23 toea per litre.

For other centres around the country, the ICCC said petrol prices will fall by an average of 3.14 toea per litre, diesel by 16.84 toea, and kerosene by about 75 toea per litre, depending on location and freight costs.

The ICCC explained that the January prices take into account import parity prices, domestic shipping and road freight for the first quarter of 2026, approved wholesale and retail margins, excise duties and GST.

To ensure compliance, ICCC officers will conduct inspections at service stations in Port Moresby, Central Province, Lae, Mt Hagen, Kokopo and surrounding centres from January 8. Additional inspections in other provinces will be carried out through provincial administrations.

The commission reminded retailers that the announced prices are maximum allowable prices and stations may sell below them. Retailers displaying prices to one decimal place have been advised to round prices down to avoid overcharging.

Consumers have been urged to report any service station charging above the approved price, with the ICCC warning that enforcement action will be taken under the Prices Regulation Act.