Illustration of Fuel price drops, LPG products attract rise

Fuel Prices Drop! What’s Next for Gas Costs?

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Starting Friday, November 1, 2024, consumers can expect a drop in fuel prices across various categories, providing a welcome relief. The price of motor spirit will decrease from $2.73 per litre to $2.62, while premix fuel will see a reduction of 12 cents, lowering its price from $2.55 to $2.43 per litre. Additionally, kerosene prices will fall from $1.79 to $1.67 per litre, and diesel prices will drop by 15 cents, bringing them down from $2.33 to $2.18 per litre.

However, it’s important to note that the cost of Liquefied Petroleum Gas (LPG) products will experience an increase. The price of a 4.5kg gas cylinder will rise by 17 cents, now costing $14.97, while a 12kg cylinder will increase from $39.46 to $39.91. Furthermore, bulk gas will see a price hike of 4 cents, going from $3.04 to $3.08 per kg, and autogas will increase by 2 cents from $2.14 to $2.16 per litre.

This adjustment in fuel pricing reflects market conditions and could relieve many households and businesses that rely on motor fuels, potentially leading to more economic activity. Despite the rise in LPG prices, the overall trend towards lower motor fuel prices may encourage consumers to travel more and stimulate local economies.


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