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Drop in fuel prices

Ropate Valemei
Wednesday, July 16, 2014

CONSUMERS must expect a decrease in fuel prices across the board following an announcement by the Fiji Commerce Commission yesterday.

The drop in prices, effective from midnight Monday, was based on the exchange rate and market fluctuations.

According to a Government Gazette on the Commerce (Price Control) (Petroleum Prices) (No.3) Order 2014, the price of motor spirit fell by 3 cents from $2.63 to $2.60 a litre, premix was down 2 cents from $2.55 to $2.53 a litre, kerosene by 5 cents from $1.87 to $1.82 a litre, and diesel by 4 cents from $2.35 to $2.31 a litre.

There was also a fall in LPG prices for the third quarter of this year.

A 4.5 kilogram cylinder is reduced by $1.49 from $18.35 to $16.86 — a fall of more than 8 per cent.

The price of a 12kg cylinder also decreased by $3.95 from $48.92 to $44.97, bulk LPG fell by 26 cents from $3.28 to $3.02 and auto gas by 18 cents from $2.29 to $2.11.

The reductions were described as great news for Fijian consumers by Attorney-General and Minister for Industry and Trade Aiyaz Sayed-Khaiyum.

"After a period in which most prices have trended upwards, it's wonderful to see these reductions across the board," he said in a statement.

Mr Sayed-Khaiyum said every sector of the Fijian economy stood to benefit.

"Whether you're an ordinary motorist, a transport operator dependent on diesel, someone living in a maritime community and dependent on pre-mix, or a householder dependent on LPG, everyone stands to gain and will have more money in their pockets.

"As everyone knows, we are a price taker in Fiji and have no control over what happens in the international marketplace. But it's extremely gratifying when price pressures are downward and every Fijian can reap the benefit."

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