Do not hoard fuel!
The warning was issued by Fijian Competition and Consumer Commission chief executive Senikavika Jiuta, who said escalating tensions between the United States and Iran were already disrupting global energy supplies.
Ms Jiuta’s comments follow yesterdays developments that tanker traffic (ships carrying oil and fuel) through the Strait of Hormuz has dropped sharply, with around 70 to 80 per cent fewer oil tankers now passing through the critical shipping route.
At the same time, Qatar has halted liquefied natural gas (LNG) production at its main export facilities, further tightening global energy supply.
As a result, the price of Brent crude has surged from about $US73 ($F160) per barrel before the conflict escalated to around $US92 ($F202) per barrel.
Ms Jiuta urged consumers and businesses to act responsibly to ensure fuel remains available for everyone.
“Recent reports show that the situation remains volatile,” she said.
“As such, the public is reminded to continue with responsible fuel usage and refrain from panic buying and hoarding.”
She said the evolving global situation could directly affect refined fuel prices in Fiji, where much of the country’s transport and electricity sector relies on fossil fuels.
“Hoarding does not protect you and ultimately it harms everyone, including yourself.
“Panic buying is socially irresponsible and undermines the fair distribution of a vital resource for every Fijian consumer.”
“There is no need to rush to the pump.
“Panic-buying and stockpiling will only create the very shortage people fear.”
