THE new price fuel adjustment for March has seen an increase in prices of kerosene and petrol, but a drop in diesel.
This was confirmed by the Price Control Unit at the Ministry of Commerce and Industry yesterday.
A spokesman said: "There's an increase in both petrol and kerosene except for diesel which had slightly dropped."
The new adjusted prices are based on submissions and calculations by the two fuel distributing companies in the country, South Pacific Oil (SPO) and Markwarth Oil Company.
A check by the Solomon Star yesterday at one of the refueling stations in Honiara confirmed the increase in the two commodities.
Petrol now cost $9.05 per litre compared to the previous $8.72 per litre last month
Kerosene which has been selling at more $8.40 per litre last month, now cost $9.19 per litre.
Diesel experienced a slight drop to 8.84 per litre this month from $8.89 previously.
The increase comes due to outside influence related to the global price for oil which continued to pick up and other disasters affecting refineries.
According to overseas report much of the rise comes from refiners switching to more expensive summer blends of gasoline designed to meet tougher pollution standards.
Crude oil prices also were higher on Monday in the aftermath of the Chilean earthquake, which disrupted copper production, and traders said, may give a boost to commodity prices in general.
Chile's state-run oil company, Enap, said it shut its two refineries after the earthquake. It is expected to have to import petroleum products soon.
By MOFFAT MAMU
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