Media Release
16 June 2016
Fuel prices will fall by up to seven cents per litre for residents of Norfolk Island from today as a result of lower supply prices.
Fuel prices will fall further from 1 July 2016 when Norfolk Island GST is removed from the wholesale price.
The latest supply price savings will be fully passed on, resulting in new wholesale prices of $1.53 per litre for unleaded petrol and $1.52 per litre for diesel.
Wholesale fuel prices will drop by a further 16 cents per litre from 1 July 2016 thanks to the removal of Norfolk Island GST.
From 1 July, the wholesale price of unleaded petrol will be $1.37 per litre and diesel will be $1.36 per litre.
In total, the wholesale price of unleaded petrol will have fallen by 66 cents per litre, and diesel by 71 cents per litre, in the 12 months since June 2015, providing broad benefits to the community through savings for individuals and businesses throughout Norfolk Island.
Retail consumers should expect to see a reduction in the price they pay for fuel as a result of the abolition of the Norfolk Island GST.
The Hon Gary Hardgrave