Fuel consumers through out the country will have to dig a bit deeper into their pockets this month because the price of fuel will increase starting tomorrow, Friday November 8th. The Independent Consumer and Competitions Commission (ICCC) announced that the price for all three petroleum products, which are petrol, diesel and kerosene, will increase on average right across Papua New Guinea (PNG) for the month of November. The domestic increase in the fuel price is affected by international supply restrictions due to the ongoing geopolitical tension in the Middle East. The changes will commence tomorrow with their Indicative Retail Prices (IRPs) increase on average nationwide. After adding all the various cost components, including the imported costs for each petroleum product, the domestic sea and road freight rates for the 2024 third quarter, the annual wholesale and retail margins for 2024 and Goods and Services Tax among other parameters, the maximum retail price movements for fuel in Port Moresby city will increase as follows: - Petrol increase from K4.18 per liter in October to K4.24 per liter in November; a 6 toea increase. - Diesel increase from K3.88 per liter in October to K4.01 per liter in November; a 13 toea increase. - Kerosene increase from K3.62 per liter in October to K3.74 per liter in November; a 12 toea increase. Meanwhile, the fuel retail prices in all other designated centers will change according to their quarterly approved domestic freight rates for the fourth quarter of 2024, and their respective annual retail margins for this year. For all other centers, the maximum retail prices for each regulated petroleum product will all increase on average consistent with the increases observed in Port Moresby city. The ICCC also states that as part of its enforcement and compliance of fuel prices, its Investigative Officers will conduct inspections to all service stations to ensure prices of declared petroleum products comply with the allowable maximum prices in the country. The ICCC officers will also conduct compliance inspections in Lae, Mt. Hagen, Kokopo and Port Moresby cities. Inspection Administrators in other provinces will be supported by ICCC Agents and respective Provincial Administration in those provinces.