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By Fili Sagapolutele
Samoa News Correspondent
Prices of petroleum products sold in American Samoa are on the increase, following Saturday's release of the new wholesale or maximum allowable price (MAP).
"World prices are catching up with us so therefore our local prices will increase for all petroleum produces," said Sione Kava with the Office of Petroleum Management, which releases the MAP twice monthly.
He said the average increase for all diesel fuel is 6 cents per gallon with new MAP for road diesel at $2.59; boilers/generators $2.27; commercial vessels $2.11; and other marine diesel $2.22. Delivery price for ASPA generators will be $2.25 per gallon.
MAP for gasoline increases 8 cents to $2.31 per gallon and jet/kerosene up also 8 cents to $2.33 per gallon.
As of last Friday average gasoline price was at $2.67 per gallon and Kava said he expects the average retail price to hike up to $2.75-$2.76 per gallon.
Gasoline price comparisons from other neighboring countries, such as Samoa and Tonga as well as Hawaii were not available over the weekend.
The hike in local products is due to an increase in crude oil prices worldwide, which resulted in an increase of 5 cents per gallon for the price American Samoa pays at the refinery. Transportation costs for the territory increased by only 1 cent per gallon, said Kava.
Kava said part of the reason prices increased is that the group, Organizations of Petroleum Exporting Countries, or OPEC, is cutting down on supplies.
"We are seeing oil prices crawling back up to more than $60 a barrel," he said, but was unable to make at this point any predictions as to how prices would be at the start of the New Year.
As of last Friday afternoon, crude oil settled at $62.51 a barrel on the New York Mercantile Exchange, according to The Associated Press, adding that prices were at its peak at $78.40 a barrel in July then plunged toward $55 last month before rising to present levels in the low $60s.
Reach the reporter at fili@samoanews.com
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