Council calls for earlier fuel price announcements

The Consumer Council of Fiji is calling for an urgent review of the country's fuel price announcement system after panic buying, long queues and alleged LPG hoarding followed the latest fuel price increase.

The council says the current practice of announcing regulated fuel and LPG prices on the final day of each month, with new rates taking effect hours later, is creating unnecessary market disruption during the ongoing global fuel crisis.

The latest adjustment, announced at 7pm on May 31 and implemented five hours later, triggered heavy demand at service stations and widespread discussion on social media as consumers rushed to beat the price increase.

The council also raised concerns about reports that some LPG suppliers allegedly withheld gas canisters from sale before the price rise took effect.

Chief executive officer Seema Shandil said the current system was no longer suitable in a period of global economic uncertainty.

“We are operating in an extraordinary global fuel crisis. Waiting until the final hours of the month to announce major price hikes naturally breeds anxiety, creates structural bottlenecks at the pumps, and opens the door for unethical traders to exploit the system,” Ms Shandil said.

"We are urging the regulator to shift toward a more proactive approach. Providing a preliminary indication or forecast earlier in the week regarding the scale of expected changes will allow consumers to plan accordingly, smoothing out demand and eliminating the late-night rush, and announcing the anticipated changes earlier in the day, or even the day before can help ease the pressure at the pump.”

The council is proposing two key changes.

The first is the introduction of early indicators, such as a mid-month or week-ahead outlook on fuel market trends and the likely direction of prices.

The second is for final price announcements to be made during the day, rather than late in the evening, to give consumers, businesses and enforcement officers more time to prepare.

The council also called on regulators to inspect LPG suppliers before planned price adjustments and take action against traders found hoarding stock to profit from higher prices.

While advocating for changes, the council warned consumers against storing fuel or LPG at home.

It echoed safety warnings from regulators, saying panic-buying and hoarding highly flammable products posed serious fire risks to families and communities.

The council said it would continue monitoring the market and urged consumers to report any trader found hoarding stock, refusing service or changing prices before official implementation times.