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ANPM: “Petrol and gasoline prices rise due to impact of global supply chains issue”

ANPM: “Petrol and gasoline prices rise due to impact of global supply chains issue”

Petrol and gasoline prices rise. Tatoli's image//Filomeno Martins

DILI, 05 march 2022 (TATOLI) – The fuel prices in Timor-Leste have risen slightly in the recent month due to the impact of the global supply chains issue, Nelson de Jesus, Downstream Director of The National Petroleum and Minerals Authority (ANPM) has said.

In capital Dili, the fuel prices across a number of petrol stations have risen from US$1.00 per liter to US$1.20 within the month of march, including the International Pertamina Petrol Station in Bebora Dili.

“There are two big fuel importers in Timor-Leste, namely International Pertamina Timor-Leste and ETO. These two companies imported the fuel mainly from Singapore. So, the current prices of the fuel in Timor-Leste depends is dependent on the global oil prices,” De Jesus told Tatoli, at Novo Turismo hotel, in Dili, on friday.

As of 28 february, the average price of gasoline around the world is US$1.27 per liter. However, there is a substantial difference in these prices among countries. As a general rule, richer countries have higher prices while poorer countries and the countries that produce and export oil have significantly lower prices, Global Petrol Prices reported.

“I think the retail gasoline prices in Timor-Leste is still low compared to other countries, for instance, Australia, Singapore, and many Asian countries,” De Jesus said.

He revealed that one of the main causes contributing to the increase in petrol prices is the conflict between Ukraine and Russia.

“Russia-Ukraine war will drive further supply chain issues and higher costs for logistics operators. Supply chains are being strained and prices rising following Russia-Ukraine conflict,” he stressed.

However, the public transportation fare in capital Dili remains unchanged with US$0.25 cents for adult passengers and US$ 0.10 cents for the students and children under 12.

Journalist: Filomeno Martins

Editor: Rafy Belo

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