THE decision by the Prices and Incomes Board not to increase fuel prices this month had been agreed to by fuel companies, says Total Fiji Limited.
Managing director Vijay Kumar said it was too early for the company to reveal the cost being subsidised.
"That is something we cannot tell now. It depends on the monthly prices," he said.
For next month, Mr Kumar said, it depended on the PIB's templates as prices were determined by the board.
Interim Finance Minister Mahendra Chaudhry said petroleum product prices would remain unchanged for the month of February.
Fuel prices are determined monthly.
The prices now in place took effect on January 2 and were determined at the end of December, reflecting the November 2007 average of MOPS (Means of Platts Singapore).
The oil price reached an all-time high of $US100 ($FJ154.70) a barrel earlier last month, causing an uproar in many sectors of the economy.
The Consumer Council of Fiji welcomed the decision.
Council chief executive Premila Kumar said the oil companies had acted on their social responsibility as people were facing hardship.
"We commend the PIB and oil companies," Mrs Kumar said.
Fiji Chamber of Commerce president Swani Maharaj shared similar sentiments, saying the Finance Ministry should reduce tax on fuel by the same percentage of fuel rise on the world market.
Mr Maharaj said oil companies made huge profits and this decision showed their social responsibility.
Fiji Council of Social Services executive director Hassan Khan yesterday did not wish to comment on the matter.
Fiji Employers Federation president Dixon Seeto said any relief from fuel price increase "will always be welcomed by the business community". He said the rise in fuel prices had increased the cost of doing business.
