Petroleum Regulatory Agency Announces November 2024 Fuel Price Updates
The Petroleum Regulatory Agency (PRA) has announced new fuel prices for November 2024, which include a reduction across several petroleum products.
As of November, the prices per liter are set as follows:
Petrol: NLe 27.30
Diesel: NLe 27.40
Kerosene: NLe 25.87
Fuel Oil: NLe 25.55
This adjustment, reflecting recent shifts in the global oil market and local economic factors, comes after global oil prices initially surged in October before stabilizing. The PRA noted that currency depreciation, combined with growing global demand and geopolitical tensions, has also influenced these pricing decisions.
Several financial adjustments accompanied this update:
A price correction levy of NLe 0.30 per liter was applied to diesel to address recent market discrepancies.
Contributions to the Debt Recovery Fund include NLe 1.32 per liter for petrol and NLe 1.06 for diesel.
The Infrastructural Development Fund remains at NLe 0.50 per liter for both petrol and diesel.
The PRA remains committed to monitoring global trends and will adjust prices as necessary to balance consumer affordability with national development goals.
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