Fuel subsidy hits importers’ accounts, prices drop

The Independent Consumer and Competition Commission [ICCC] has confirmed that the National Government’s fuel subsidy has successfully hit the accounts of fuel importers, bringing immediate relief to consumers.

Speaking at a media conference in Port Moresby this afternoon, ICCC Commissioner Roy Daggy clarified that retail prices for diesel, petrol, and kerosene have now returned to the rates recorded in March 2026.

The price reversal comes as welcome news for fuel consumers nationwide who have been facing escalating costs at the pumps.

Daggy further clarified that under its legislative mandate, the consumer and competition watchdog only regulates the prices of fuel sold directly at retail pumps.

He said while the fuel subsidy is a fiscal measure introduced entirely by the National Government, the intervention has effectively cushioned consumers against an expected spike in petroleum product prices for the second consecutive month.

The ICCC chief also used the briefing to explain the commission's regulatory framework, detailing how the ICCC calculates the domestic prices of refined fuel imported into Papua New Guinea based on international market variables.