March 2024 Fuel Price Media Release
05 Mar 2024

Dear stakeholder,


The Ministry would like to communicate its March 2024 fuel price review decision as follows:


That the Ministry recorded:

  • under-recoveries of 153 cents per litre on petrol
  • under-recoveries of 114 cents per litre on diesel 50ppm
  • under-recoveries of 106 cents per litre on diesel 10ppm


Therefore, the Ministry is hereby announcing that:

  • petrol prices and both the diesel prices will remain unchanged.
  • NEF will absorb the under-recoveries.
  • increase NEF levy by 50 cents per litre, to ensure security of fuel supply and to maintain sustainability of the fund.



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