TANE Association requests to MPM to regulate brutality increasing oil prices in national market

DILI, 07 april 2022 (TATOLI)- Tane Konsumidór Association requested the Minister of Petroleum and Minerals to regulate fuel prices in the national market in Timor-Leste.

The President of TANE Konsumidor Association, António Ramos da Silva  said the government should take a measure on controlling oil prices in the national market. It is to ensure the oil suppliers will not provide the price which affects the consumer’s rights.

The government should regulate the flue prices in the national market, otherwise, the global market prices will not increase significantly but national prices will increase without control.

“The government should not allow the oil price to decide the market price for oil. As the supplier will decide the price which can be prejudice for consumer’s right, “The President of TANE Konsumidor Association, AAntónio Ramos da Silva said to reports at his office in Vila Verde,  this thursday.

He added that TANE association has identified that the gasoline price has increased, referring to the gasoline up to 15% and petrol add up to 21% in Eto oil Supplier Company.

Mr. Da Silva said TANE  has conducted a survey for national fuel oil prices in 19 fuel stations across Timor-Leste in the last 28 of february 2022 showing:  Pertamina Fuel is recorded with the high price for Gasoline at $.1.26 and Gasoel  $.1.26 and Eto fuel is in low prices for gasoline $.1.18 and petrol $.1.16 in Balide fuel station.

The other 17 fuel stations across the Dili rate for gasoline prices $.1.10 to $.1.21 and for petrol price is $. 1.20 to 1.21.

Data can be compared with a survey conducted on 5 to 7 of april 2022 shows  the price is increasing brutality for pertamina fuel station the avarages prices for gasoline is increasing to $.1.35 and Gasoel to 1.35.

According to TANE survey for the Brent oil futures historical data shows on 7 of march 2022 – 7 of april 2022 shows:

The president of the TANE Association recommended to the government of Timor-Leste that the oil prices must be balanced with the prices offered in the International market.

“This opportunity is not allowing the oil supplier to be used gain for any income, however the price should be based on the international market price,” He said

TANE is recommended to authorities composed of MPM, ANPM, Timor Gap and other authorities to provide dialogues with oil suppliers and consumers to gain more information due on the fuel prices globally and nationally.

Journalist: José Belarmino De Sá

Editor: Rafy Belo