The country’ consumer watchdog, the Independent Consumer and Competitions Commission (ICCC) has announced the retail price of fuel will decrease this month starting today; however, the decrease is just a slight decrease from the retail fuel price from last month. For the fuel retail prices for Port Moresby city, it’s K4. 66 per liter for petrol, K4. 39 per liter for diesel and K4.05 per liter for kerosene. That’s a 1 toea decrease for petrol, 2 toea decrease for kerosene, and 11 toea decrease for diesel from last month’s retail fuel prices. The Port Moresby retail fuel prices for March were Petrol - K4.67 per liter, Diesel - K4.50 per liter, and Kerosene - K4.07 per liter. The decrease in the retail prices for April are mainly attributed to the slight decrease in domestic freight charges for the second quarter of 2024. The domestic retail fuel prices (IRPs) for this month are inclusive of the Import Parity Prices (IPPs) or the imported costs for each petroleum product, domestic sea and road freight rates for the second quarter of 2024, the annual wholesale and retail margins for 2024, and the Goods and Services Tax (GST), including the applicable excise duties, among other parameters. Meanwhile, the retail prices in all other designated centers will change according to their quarterly approved domestic freight rates for the second 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 decrease on average consistent with the changes observed for Port Moresby city. As part of the ICCC’s enforcement and compliance of fuel prices, its Investigation Officers will conduct inspections to all service stations to ensure prices of declared petroleum products comply with the allowable maximum prices. The following ICCC officers will conduct compliance inspections in Lae, Mt. Hagen, Kokopo and Port Moresby. Inspections in other provinces will be supported by the ICCC Agents and respective Provincial Administration in those provinces.