SUNBIZ

Our Fuel Prices Reduce Further

Fuel prices haVE further dropped. This reduction has been announced just a few weeks after the massive fuel price reduction was released on December 20. It comes as global prices
14 Jan 2015 10:13
Our Fuel Prices Reduce Further
A service stations attendant fuels up on taxi fuels up. The Fiji Taxi Association and the Fiji Bus Operators Association and bus drivers are one of the major consumers set to benefit after the further reduction in fuel price announcments yesterday.

Fuel prices haVE further dropped.

This reduction has been announced just a few weeks after the massive fuel price reduction was released on December 20.

It comes as global prices continue to fall. In an announcement Government is ensuring that the Fijian consumers are able to immediately benefit from the reduction.

This was enabled by the flexible Price Determination Mechanism put in place by the Government.

This allows for review of prices at the end of each quarter or sooner if the price change surpasses the trigger levels.

Fiji Taxi Association Secretary, Rishi Ram said: “We are very glad as it is a timely matter however, should this should have been done a long time ago.

“We are pleased with the government with the introductory of the reviews to every fortnightly basis.”

“However, we hope the government could provide a modes budget where other modes of cars can be issued as taxis so we can have brand new vehicles as taxis.”

Fiji Bus Operations Association, President, Verendra Kewal said: “We are very happy with the reduction in fuel prices.

“In the past four years we have not had an increase in the bus fare prices and have bared many increased costs, this reduction in fuel prices plays to our advantage.”

Feedback:  rachael.nath@fijisun.com.fj

 




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