Vanuatu Business Review » Petroleum Price Hike
Petroleum Price Hike
Prices of petrol at pumps in Vanuatu increased yesterday, Wednesday, 20th of April 2022.
“With the Russian invasion of Ukraine in February of 2022, the demand for oil cause prices to hike,” the Department of Energy (DoE) relayed yesterday.
“The crude oil price hikes are therefore reflected in the downstream side that shows in the imports of petrol and diesel in February 2022 into Vanuatu by the petroleum product supplier.
“The petrol imported in February is now to be released into the retail markets on 20th of April with the price of VT195 per Litre. This is an increase of VT22 per Litre from the previous retail price of VT173 per Litre.”
The prices are based on the cost fluctuations of the Means of Platts Singapore (MOPS), the regional pricing benchmark adopted in the downstream oil industry, including other cost components, foreign exchange rate, and other charges.
The petrol grade dispensed at the pumps is the 95 RON Petrol.
The DoE has suggested the following ways to improve fuel efficiency and save money at the pump.
Firstly, accelerate and decelerate a little slower. Accelerating a little bit more slowly can improve the fuel economy of a vehicle with no extra cost.
The Department advises referring to the manual for best speeds to achieve maximum fuel economy, with less adverse impact on the environment as well.
Secondly, anticipating the flow of traffic by looking ahead and planning a trip is recommended.
Slow down when reasonable and do not idle your engine for too long.
Using a car that is smaller with less mass to move means less fuel to burn per kilometer. Remember to keep the tyres properly inflated.
The DoE reminded that a car is designed to be aerodynamically efficient and extras such as roof racks, bull bars and bike bars, etc. will increase the drag.
Finally, just getting some of the weight out of the car can make a difference.