8 Jul 2015

Lower fuel prices for Rarotonga residents

10:41 am on 8 July 2015

Rarotonga residents will be paying less at the petrol pump when changes come into force next Wednesday.

Cheaper fuel for Rarotonga residents will be the result of changes announced by the Price Tribunal to the current price control mechanism.

The Cook Islands Price Tribunal President, Tatiana Burn, says the price order will be made on July the 15th.

The new price will be based on petrol, diesel and LPG gas shipments to Rarotonga during the June to May period.

She says public feedback has also been taken into consideration.

It will feature a minimum and maximum wholesale price as well as a maximum allowable retail margin - in other words the maximum profit a business can make, so to ensure any savings are passed onto the consumer.

The changes follow a six-month review of current pricing arrangements, and they're expected to create a more level playing field for importers.