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TANE Consumer Association identifies the oil global index increasing, here is the result

TANE Consumer Association identifies the oil global index increasing, here is the result

The president of TANE, António Ramos

DILI, 14 march 2022 (TATOLI)- TANE Consumer Association – a Timorese organization aimed at consumer protection and advocacy, identified the oil global index increasing, which is affected by the Russian and Ukraine conflict.

The President of TANE consumer association, António Ramos da Silva said due to the survey conducted by the Global index petroleum price has identified that the added up of price caused by a conflict between Russia and Ukraine is occurring in the Europe region.

“Due to the Russian invasion of Ukraine, the global market in London must increase petroleum prices. Timor-Leste is also affected as a single fuel supplier from Singapore mostly affected by global price,” President of TANE consumer association, António Ramos da Silva told reports at his office, villa Verde, this monday.

The London global market recorded that in 7.03.2022- Record to open with maximum value in the London Brent market with a value of USD 139/barrel and Nazdack with a value of USD 130/barrel.

America Bank analysts that if most of Russia’s oil exports were cut, there could be a deficit of 5 million barrels per day (BPD) or more, and that means the oil prices could reach 200 dollars”, He said

Timor-Leste’s market is affected by the increasing price of petroleum regarding the petroleum suppliers directly supplying from the Singapore market. As the deficit oil price must be depending on global price.

Currently, the government of Timor-Leste through the Petroleum and Mineral Authority (ANPM) should not decide the reasonable oil price in the country.

TANE association is working on the legal framework based on constitutional decree-laws no 53 consumer protection No 8 /2016. Besides on market price controlling and analyzing price based on decree laws on 29/2011 for real market prices.

TANE analyzed that the petroleum fix price in Timor-Leste national market is not described. The legal framework is not allowing the petroleum and mineral authority to establish the fixed price of petroleum in Timor-Leste.

The decree-laws No 1, 2012 for the first of February, focus on downstream is not authorizing ANPM to regulate petroleum price in Timor-Leste.

He added that TANE has identified that there are three fuel suppliers in Timor-Leste composed of Esperanca Timor Oan (ETO), PERTAMINA, and Global.

TANE also provides a recommendation to the government on two points as collective subsidy and productive subsidy.

It is required for the government to provide a selective subsidy offering to Taxi, Mini-Bus (Mikrolet), and Bus. It is helping out the income of public transportation.

The productive subsidy will be offered to the agriculture sector to respond to tractors and for the fishery on the Jenson machine for fishing.

TANE plays an essential duty in providing an advocacy process based on a legal framework to conduct a survey on identifying the increased price for basic needs in Timor-Leste.

Data in 28.02.2022

Supplier Companies Prices Allocation Distributor
Fuel Gasoline
1 Pertamina Fuel $ 1.26 $ 1.26 Bebora Pertamina International
2 99 Fuel Station $ 1.21 $ 1.21 Hudilaran Global
3 Belak Fuel Station $ 1.21 $ 1.20 Fomentu Pertamina International
4 Mae da Graca Fuel $ 1.23 $ 1.23 Raikotu Pertamina International
5 Borala Fuel $ 1.18 $ 1.16 Comoro Global & Eto
6 Lafaek Oil & Gas Fuel $ 1.25 $ 1.24 Comoro Global
7 Aitula Fuel $ 1.20 $ 1.18 Comoro Eto
8 Mekar Fuel $ 1.18 $ 1.16 Luro-mata Eto
9 De shun Fuel $ 1.20 $ 1.20 Fatuhada Global
10 Mega Petroleum $ 1.19 $ 1.19 Fatuhada Global
11 68 Petro station $ 1.21 $ 1.21 Hudilaran Global
12 Eto Fuel $ 1.18 $ 1.16 Mandarin Eto
13 Mira mar Fuel $ 1.15 $ 1.13 Fatuhada Eto
14 Realistic Fuel $ 1.10 $ 1.10 Matadoru Pertamina int. & Eto
15 East Gas Fuel $ 1.22 $ 1.22 Bidau Akadiruhun Pertamina International
16 Culuhun Fuel Station $ 1.21 $ 1.21 Culuhun de Baixo Global
17 Chongti Petrol $ 1.21 $ 1.21 Culuhun Centro Global
18 Super Fuel $ 1.20 $ 1.20 Culuhun Centro Eto
19 Eto Fuel $ 1.18 $ 1.16 Balide Eto

 

This is not the national petroleum fix price. It can be influenced by global and Asia index prices.

Related news:TANE Consumer becomes ICA’s member after fulfil some principal criteria

Journalist: José Belarmino De Sá

Editor: Rafy Belo

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