The Consumer Council of Fiji is calling for an urgent review of the country’s fuel price announcement mechanism, arguing that late-night price announcements are fuelling panic buying, long queues and opportunities for unscrupulous traders to exploit consumers during the current global fuel crisis.
The Council said the existing system, where the Fijian Competition and Consumer Commission (FCCC) announces regulated fuel and LPG prices on the final day of each month for implementation just hours later, is no longer suitable given the volatility of international fuel markets.
The call follows the latest fuel price adjustment on May 31, when a significant increase was announced at 7pm and took effect only five hours later.
According to the Council, the announcement triggered widespread panic buying at service stations, lengthy queues and a surge of misinformation on social media.
Consumer Council Chief Executive Officer Seema Shandil said consumers and businesses needed more time to prepare for major fuel price changes.
“We are operating in an extraordinary global fuel crisis. Waiting until the final hours of the month to announce major price hikes naturally breeds anxiety, creates structural bottlenecks at the pumps, and opens the door for unethical traders to exploit the system,” Shandil said.
The Council also raised concerns about reports that some LPG suppliers allegedly withheld gas canisters from sale ahead of the increase in order to benefit from higher prices once the new rates took effect.
It has proposed that regulators conduct inspections a day before any planned fuel or LPG price adjustment and take action against traders found to be hoarding stock.
Among the reforms being advocated is the introduction of early market indicators to give consumers advance notice of expected fuel price trends.
“We are urging the regulator to shift toward a more proactive approach. Providing a preliminary indication or forecast earlier in the week regarding the scale of expected changes will allow consumers to plan accordingly, smoothing out demand and eliminating the late-night rush,” Shandil said.
The Council is also recommending that if advance announcements are not possible, fuel price determinations should be made during the morning or daytime rather than late in the evening.
“Morning or daytime announcements should be made, ensuring final price determinations are announced earlier, rather than late in the evening, giving enforcement officers and consumers ample time to make preparations,” Shandil said.
Despite its concerns over the current system, the Consumer Council reiterated warnings against hoarding fuel and LPG at home, saying the storage of highly flammable products in residential areas posed serious fire and safety risks to families and neighbouring communities.
