Fuel prices in Fiji are undergoing adjustments with a mix of increases and decreases that reflect international market changes. The Fijian Competition and Consumer Commission (FCCC) has announced that the cost of Motor Spirit will rise by two cents to $2.58 per liter, while Premix will see an increase of one cent to $2.41 per liter. On the other hand, Diesel will experience a larger drop of eight cents, making it $2.22 per liter, and Kerosene will decrease by four cents to $1.72 per liter.
These changes are influenced by several global factors, such as fluctuations in refined fuel costs, shipping rates, and currency exchanges. Specifically, the rise in Motor Spirit and Premix prices can be attributed to climbing refined fuel prices. Conversely, the reduction in Diesel and Kerosene prices is due to lower import costs and a weaker U.S. dollar impacting global markets.
Moreover, consumers using LPG will benefit from a drop in prices across all LPG cylinders and bulk options. The price of a 4.5 kg LPG cylinder decreases by $0.75 to $13.52, while a 12 kg cylinder is reduced by $2 to $36.05. Bulk LPG sees a 16-cent per kg cut, and Autogas will lower by 11 cents per liter. These LPG price reductions result from a decrease in international butane and propane prices, reduced demand in Asian markets, and decreased shipping expenses.
The FCCC is tasked with overseeing the implementation of these new prices, ensuring compliance at retail levels. They encourage consumers to report any discrepancies such as overcharging or hoarding. This regulatory oversight is crucial in maintaining fairness for consumers.
The current adjustments in Fiji’s fuel and LPG prices reflect global economic volatility, but the decrease in certain fuel products and LPG provides relief to many Fijian households. The FCCC remains committed to monitoring these shifts, ensuring that consumers are treated equitably despite changes in the global market landscape.