Fiji Time: 7:42 PM on Tuesday 23 January

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Fuel costs more

Luke Nacei
Sunday, January 14, 2018

Fijians will now have to fork out 19 cents more for every litre of kerosene they buy.

The change was announced yesterday by Minister for Industry and Trade Faiyaz Koya when he presented the price increases of motor spirit, premix, kerosene, diesel and liquefied petroleum gas (LPG) based on the latest review of prices by the Fiji Competition and Consumer Commission.

The new fuel and LPG prices will come into effect tomorrow.

Mr Koya said the new petroleum prices were mainly determined by unfavourable movement in international prices for all petroleum products in the last quarter of 2017.

"Fiji is directly impacted by the world prices for both refined oils and LPG. As such any changes to the world market prices will be reflected in fuel and LPG prices in Fiji," he said.

From tomorrow, the price of motor spirit will increase from $1.89 to $2.03 (increase by 14 cents per litre); premix from $1.75 to $1.89 (increase by 14 cents per litre); kerosene from $1.30 to $1.49 (increase of 19 cents per litre) and diesel from $1.55 to $1.71 (increase of 16 cents per litre).

Mr Koya said crude oil prices traded at the highest levels in more than two years, for the months of November and early December last year.

He added the increase in prices for LPG products was because of the increase in the international butane prices based on the Saudi Aramco Contract prices.

The prices, he said, were affected by the strengthening of the US dollar that led the international freight rates to increase, resulting in price increase for all LPG products.

The price of a 4.5kg cylinder of cooking will now increase from $12.58 to $14.43 (increase of $1.85); 12 kg cylinder from $33.55 to $38.48 (increase of $4.93); bulk from $2.38 per kg to $2.72 per kg (increase of 34 cents); and auto gas per litre from $1.58 to $1.82 (increase of 24 cents).

Meanwhile, the next fuel and LPG price review will be conducted by the Fijian competition and Consumer Commission on April 15 this year.








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