Fuel prices likely to rise again: Minister
Mr Immanuel said the increase in international oil prices would eventually flow through to Fiji.
Tuesday 21 July 2026 | 14:00
A gas station attendant provides fuel services to one of many vehicle owners who queued on March 31, 2026, ahead of the FCCC’s announcement of a new price increase.
Photo: Ronald Kumar
Fiji could see higher fuel prices within the next month as renewed tensions in the Middle East push global oil prices above US$80 a barrel, Finance Minister Esrom Immanuel has warned.
Mr Immanuel said the increase in international oil prices would eventually flow through to Fiji, where fuel costs are linked to global market movements.
He said Fiji had briefly benefited when tensions eased and hopes grew of an agreement between key players, including the United States and Iran, and during that period, global oil prices fell, providing some relief from rising fuel costs.
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“Yes, it will. But as all are aware, when they (the US and Iran) were due to sign an agreement, the fuel price went down, and the Strait of Hormuz was relaxed,” he said.
However, Mr Immanuel said renewed tensions had pushed prices higher again.
“But now the problem is escalating again. You can see the price of fuel; it has gone up again to over $80 US a barrel. So, it will affect us, probably taking another month to affect us.”
The warning comes as countries continue to monitor developments in the Middle East, particularly concerns about possible disruptions to oil supply routes.
The Strait of Hormuz, a key shipping route for global energy supplies, remains a major factor influencing oil market confidence.
For Fiji, any sustained rise in fuel prices could increase transport costs and add pressure on businesses, freight operators and consumers.
With Fiji heavily reliant on imported fuel, higher international oil prices could also contribute to increased costs for goods and services.
