BY NED GAGAHE
The Price Advisory Committee (PAC) under the Ministry of Commerce, Industry, Labour and Immigration (MCILI) has announced adjusted fuel prices for the period from May 16 to May 30, 2026, with further increases expected next month due to rising global fuel prices.
A statement from Government said yesterday under the new adjustment, the maximum retail price for Petroleum Motor Spirits (PMS) in Honiara is now fixed at 1,118.60 cents per litre, ($11.19 per litre retail) while Distillate (ADO) is set at 1,524.33 cents per litre ($15.24 per litre retail).
Wholesale prices have been set at 970.79 cents per litre ($9.71 per litre) for PMS and 1,348.22 cents per litre ($13.48 per litre) for ADO.
For kerosene (KERO), the PAC said that the maximum percentage mark-up remains at cost into store plus 7.5 percent for sales of packaged products and cost into store plus 20 percent for breakbulk sales.
The committee said the twice-monthly adjustment mechanism is intended to ensure fuel price increases are introduced gradually in smaller amounts.
PAC also warns that another increase is anticipated in the next fuel price adjustment scheduled for June 1, 2026.
According to the committee, the upcoming adjustment will be based on the average global fuel prices recorded in April, a month during which international fuel prices reached their highest levels.
“We anticipate a further increase in the June price adjustments,” the statement said.
PAC said that current fuel prices would have been significantly higher without Government fiscal measures currently in place.
Consumers in Honiara have also been reminded that the maximum retail prices are legally fixed until the next official adjustment period.
Meanwhile, Government says it hopes to introduce fuel price control measures in the provinces during the June adjustments.
The statement further confirmed that the national energy working group will continue reviewing fuel supply options, including alternative and renewable energy sources, as part of long-term efforts to strengthen the country’s energy security.
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