DILI, 05 october 2023 (TATOLI) — A report by the National Petroleum Authority (ANP) revealed that fuel prices in Timor-Leste rose by more than 10% in just a course of a month (september 4 to october 4).
According to the report, the majority of petrol stations sold petrol at US$1.15 per liter in september, but the price increased to US$1.28 and US$1.35 in october.
The report showed that petrol sold at Pertamina International Timor rose from US$1.18 per liter in september to US$1.30 in october. Meanwhile, petrol sold by ETO rose from US$1.18 per liter in september to US$1.30 in october.
The representative of Pertamina International Timor, Rudolfo Sinambela, explained that changes in local petrol prices were affected by international oil prices.
“The price of fuel is always going up and down, which is determined by the international fuel price. But transportation costs, crude oil, refining, and taxes can also be the factors,” said Sinambela on thursday.
The price of the OPEC basket of thirteen crudes stood at US$93.56 a barrel, on tuesday, compared with US$94.99 the previous day, according to OPEC Secretariat calculation.
Sinambela said that the surge in the price of fuel is also due to the fact that the Russia and Ukraine war has changed the oil transportation route: “For now we have to import fuel from Singapore, which means that there is an increase in the price of transporting fuel to the country.”
Rising oil prices mean that drivers are paying more for petrol and ordinary citizens will have to pay more for transport.
Due to rising fuel prices, many public transport drivers have gone on strike this week, calling on the government to intervene to normalize national fuel prices.
Journalist: José Belarmino De Sá
Editor: Filomeno Martins
