Fiji will see an increase in fuel and LPG prices starting tomorrow, with the Fijian Competition and Consumer Commission (FCCC) announcing the new retail prices for these essential commodities.
As of September 1, 2024, the price of motor spirit will rise to $2.60 per liter, representing a two-cent increase from the previous rate. Additionally, the price of premix fuel will increase by four cents to $2.45 per liter, while kerosene will now be priced at $1.77 per liter. Diesel will also be affected, with a six-cent hike bringing its price to $2.28 per liter.
In terms of LPG, consumers will pay $13.64 for a 4.5 kg cylinder. The cost of the larger 12 kg cylinder will go up by 31 cents, reaching $36.36. Bulk gas prices will now be set at $2.81 per kilogram, while auto gas will see a minor increase of two cents, bringing it to $1.93 per liter.
To ensure adherence to the new pricing structure, the FCCC Enforcement Team will carry out inspections at various wholesale and retail locations as well as service stations. The FCCC emphasizes that the prices established are the maximum allowable rates, and retailers have the option to sell at these limits or even lower.
These price adjustments are driven by multiple factors, including international fuel prices, shipping costs, and variations in exchange rates. While these changes pose challenges for consumers, they reflect the FCCC’s ongoing commitment to regulating market prices and maintaining fair practices within the fuel industry.
In light of these changes, there is hope that the continued regulatory oversight will safeguard consumer interests while accommodating the evolving market dynamics. The proactive monitoring of compliance with these new prices may contribute to a more stable economic environment for the people of Fiji.