Treasury to freeze bunker‑fuel price rise pending security review

Federal Treasury Minister Marcus Eklund announced on Thursday that the temporary surcharge on bunker‑fuel contracts, slated for activation on 1 November, will be suspended pending the outcome of the security audit at the Nueva Singapur fuel depot. The decision aims to shield shipping companies from abrupt cost spikes while authorities assess the incident’s impact on supply chains.

‘Stability in fuel pricing is essential for our maritime trade,’ the Minister said in a brief statement. ‘We will revisit the surcharge once the Port Authority confirms that operations have returned to normal and that the risk of further disruptions is mitigated.’ The move is expected to keep the average bunker‑fuel price at ₣ 1.02 per litre for the next two weeks.