SUNBIZ

Fuel Prices Go Up From Monday

Ms Jiuta said the new prices for Quarter three 2019, was from Monday to October 14. This is mainly determined by the movement international prices for petroleum in the LPG prices since the last quarter.
13 Jul 2019 18:08
Fuel Prices Go Up From Monday

Prices of unleaded petrol, premix, kerosene, diesel and LPG products will be increased from Monday.

The increase is based on the latest review of prices by the Fiji Competition and Consumer Commission (FCCC).

The announcement was made by FCCC general manager operations, Senikavika Jiuta yesterday.

Ms Jiuta said the new prices for Quarter three 2019, was from Monday to October 14.

This is mainly determined by the movement international prices for petroleum in the LPG prices since the last quarter.

Ms Jiuta said the first half of the year faced ongoing trade tensions that have escalated threatening the spill over and geopolitical risks maintained in many key regions.

Retail fuel price INCREASES are as follows:

  • Motor Spirit- $2 to $2.18 per litre, increase of 18c per litre
  • Premix- $1.84 to $2.02 per litre, an increase of 18c per litre
  • Kerosene- $1.54 to $1.62 per litre, an increase of 8c per litre
  • Diesel- $1.82 to $1.89 per litre, an increase of 7c per litre

For LPG prices:

  • 4.5kg cylinder-$12.89 to $13.46, an increase of 57c
  • 12kg cylinder- $34.37 to $35.89, an increase of $1.52
  • 13kg cylinder- $37.23 to $38.88, an increase of $1.65
  • Bulk- $2.41 to $2.52 per kg, an increase of 11c and
  • Auto gas per litre- $1.62 to $1.69, an increase of 7c per litre

This has resulted in a slowdown in global economic activity and weaker demand compared to a year earlier.

“Fiji is directly impacted by the world prices for both refined oils and LPG,” Ms Jiuta said.

“These included trade pressures between US and China as both countries issue tariffs on each other and geopolitical events in Venezuela and Iran resulting in decline in crude oil production.

“The changes in prices for both petroleum and LPG products are also impacted by the unfavourable movement in the international freight rates and the strengthening of the US Dollar.

“As such, any changes to the world market prices will be reflected in fuel and LPG prices in Fiji.”

Ms Jiuta said FCCC has taken an interactive approach to ensure that traders, fuel companies and service stations are given ample time to make necessary changes.

She highlighted that companies found breeching the FCCC Act would be fined upto $50,000 for first time offenders and a maximum of $250,000 for continuous offenders.

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