Fuel price down

THE Government yesterday announced a further reduction in fuel and liquefied petroleum gas (LPG) effective from midnight last night.

Attorney-General Aiyaz Sayed-Khaiyum said the further price reduction was larger than the previous reduction in both 2014 and 2015.

According to Mr Sayed-Khaiyum, motor spirit would be reduced by 41 cents, a drop from $2.31 to $1.90. Diesel is reduced by 34 cents — from $2.01 to $1.67 a litre. Premix is reduced by 33 cents, from $2.18 to $1.85 a litre. Kerosene is reduced by 31 cents, from $1.58 to $1.27 a litre and price for 4.5kg cylinder of cooking gas is reduced by $1.88, a drop from $15.33 to $13.45.

For a 12kg of cylinder, he said it was reduced by $5, from $40.87 to $35.87, and bulk LPG gas is reduced by 33 cents, from $2.74 to $2.41 and autogas is reduced by 23 cents, from $1.93 to $1.70.

“The last time we had motor spirit below $2 was about eight years ago,” Mr Sayed-Khaiyum said.

He said prices may vary outside Viti Levu.

He added the fuel price was determined by the international market prices.

“There have been significant shifts since at least December last year as we see a continuous reduction in fuel prices.

“But the fuel price reduction is highly significant and mostly much to our delight, it is reflective of changes in the world market and of course the recent announcement that had been made regarding the opening up of the new oil field and of course what’s happening with the negotiations with Iran.”

He said they were hoping the fuel price would reduce further.

However, Mr Sayed-Khaiyum said that while the public would enjoy the drop in fuel price, they should also consider saving energy.

Fact-file:

* Motor Spirit reduced by 41 cents;

* Diesel reduced by 34 cents;

* Premix reduced by 33 cents;

* Kerosene reduced by 31 cents;

* 4.5 kg cylinder is reduced by $1.88;

* 12 kg cylinder is reduced by $5;

* Bulk LPG is reduced by by 33 cents;

* Auto Gas by 23 cents.

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