Thursday, April 9, 2026
Prime Minister James Marape has announced a K1 billion fuel stabilisation package and the creation of a Cabinet committee to shield Papua New Guinea from soaring global fuel prices.
Speaking at a press conference in Port Moresby, Marape said the government is acting swiftly to protect households, businesses, and essential services from international price shocks.
“The world is facing extraordinary circumstances. International fuel prices have risen significantly in some cases by as much as 70 to 80 per cent due to instability abroad,” he said.
The intervention will subsidise fuel imports, ensuring domestic prices remain close to March 2026 levels.
Importers will continue buying fuel at elevated global rates but sell locally at stabilised prices, with government covering the difference.
An initial K100 million will be released immediately to secure supply.
Strict oversight will be enforced by the Independent Consumer and Competition Commission (ICCC) to guarantee that relief reaches ordinary citizens.
A special Cabinet committee, chaired by Minister Joseph Lelang, will coordinate the national response, bringing together Treasury, the Bank of PNG, ICCC, and the Internal Revenue Commission.
Marape said the move is part of broader efforts to protect the economy and ensure stability during uncertain times.
He urged citizens to remain calm, conserve fuel, and rely more on local food systems to reduce exposure to global shocks.
“In difficult times, Government must step in. That is exactly what we are doing,” he said.
The Prime Minister stressed that while supply is secured into May, the government is preparing for prolonged global disruptions, determined to keep fuel affordable and safeguard livelihoods.