Fuel prices are set to see a decrease starting tomorrow, November 1, 2024, while there will be an increase in the cost of Liquefied Petroleum Gas (LPG) products.
The price of motor spirit will drop from $2.73 to $2.62 per litre. Similarly, the cost of premix fuel will decrease by 12 cents, bringing it down from $2.55 to $2.43 per litre. Kerosene prices are falling from $1.79 to $1.67 per litre, and diesel will see a decline of 15 cents, from $2.33 to $2.18 per litre.
On the other hand, consumers will experience an increase in LPG prices. A 4.5kg gas cylinder will now cost $14.97, reflecting a rise of 17 cents. The price for a 12kg cylinder will increase from $39.46 to $39.91. Additionally, the cost of bulk gas will go up by 4 cents, setting it at $3.08 per kg, and the price of autogas will increase by 2 cents, rising from $2.14 to $2.16 per litre.
This shift in pricing highlights the fluctuations in the fuel market and its impact on consumers, as they navigate both decreases and increases in fuel costs. While the reduction in petroleum prices is a positive development for motorists, the rise in LPG prices serves as a reminder of the ongoing instability in global energy markets.
Overall, even with the mixed news, it’s hopeful that consumers can benefit from lower costs in certain fuel types, while the industry adapts to the changing economic landscape.
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