A sharp rise in global fuel costs has been identified as the key driver behind Fiji’s latest fuel price hike, according to the Fijian Competition and Consumer Commission.
In its April review, the FCCC said the adjustments reflect significant increases in international refined fuel prices, coupled with movements in freight rates and a strengthening US dollar.
Motor spirit prices recorded notable increases on the global market, directly impacting local petrol prices. Meanwhile, kerosene and diesel saw even steeper spikes, with international refined prices rising by more than 50 percent during the assessment period.
These global shifts have translated into higher domestic prices, with petrol now set at $2.93 per litre, diesel at $2.89, premix at $2.76 and kerosene at $2.40 from April 1.
The FCCC noted that while international freight rates declined slightly, this was not enough to offset the sharp rise in refined fuel prices and currency pressures.
Fiji, as a price taker in the global fuel market, remains heavily exposed to international volatility. The commission said external factors, including geopolitical tensions and supply uncertainties, continue to influence pricing outcomes.
Despite the increases, the FCCC said it had taken steps to ease the burden on consumers by averaging fuel price benchmarks over a longer period and maintaining strict regulatory oversight.
The commission reiterated that ensuring a stable and continuous fuel supply remains critical, even as global market conditions push prices upward.
