PREPARE for new fuel prices that come into effect today.
Announced by the Fijian Competition and Consumer Commission yesterday, the new prices are:
THE new fuel prices were sparked by the differing overseas market prices.
According to the Fijian Competition and Consumer Commission (FCCC), the prices in Fiji were impacted by movements in the Mean of Platts Singapore (MOPS), international freight rates and foreign exchange rates.
“FCCC’s independent analysis revealed that price of motor spirit and premix will increase in May 2024 due to unfavourable movement noted in the international refined fuel price of motor spirit.
“The cost price of refined motor spirit increased compared to last month’s review and the favourable movement noted in the international freight rate marker for motor spirit, ie, international freight rate marker decreased when compared to last month’s review and the US dollar strengthened against the Fijian dollar for motor spirit and premix.”
The commission explained that for kerosene and diesel, the favourable prices this month was attributed to the favourable movement noted in the international refined fuel price of kerosene and diesel.
The notable increase was in the cost of cooking gas which the FCCC explained was because of overseas price and cargo movements in the Asia Pacific region and South America.
“Exports through the Panama Canal have been moving relatively freely, but transit restrictions kept the outlook uncertain.
“These international market forces impacted the price of Butane and Propane Contract Price in March 2024 and LPG products in the Fijian market in May 2024.”
FCCC is warning retailers and wholesalers that an enforcement team has been mobilised to monitor the new rates.
“As part of the FCCC’s enforcement and compliance of fuel prices, our Enforcement Team will conduct inspections at wholesale or retail outlets and service stations to ensure prices of authorised petroleum and LPG products comply with the allowable maximum prices.” || Fuel prices2 || FCCC
l Kerosene – $2.03 (decrease from $2.05)
l 4.5KG gas – $15.87 (increases from $15.81)
l 12kg gas – $42.33 (increase from $42.16)
l Diesel – $2.62 (decrease from $2.69)
l Autogas – $2.29 (increase from $2.28)
l Motor Spirit – $3.03 (increase from $3)
l Premix – $2.85) (increase from $2.84) || Fuel Prices || New Fuel Prices