CONSUMERS will pay more for gas and fuel because the increase in the price of the commodities comes into effect today.
A statement from the Department of Information yesterday said the price of motor spirit had risen by 10 cents from $1.67 to $1.77 per litre, premix had risen by 9 cents from $1.52 to $1.61, kerosene had risen by 16 cents from $1.00 to $1.16 while diesel had risen by 15 cents from $1.24 to $1.39.
“Unfortunately, global demand for fuel has reached an all-time high between April and June this year.
“We are all aware that Fiji is a price taker and can’t control for such fluctuations in global fuel markets.
“However, even when taking these quarterly increases into account, fuel and LPG prices are markedly lower than prices in this same period last year,” said the acting Minister for Industry, Trade and Tourism Aiyaz Sayed-Khaiyum.
The increase in the cost of fuel in the third quarterly review of prices by the Fiji Commerce Commission was based on exchange rates, freight rates and international refined oil prices.
The commission attributed the increase in fuel prices to increased global demand for fuel, weakening of the US dollar and supply disruptions in global distribution channels.
The commission also noted rises in the prices of LPG for the third quarter of 2016 whereby a 4.5 kilogram cylinder had risen by 10 cents from $11.51 to $11.61. A 12kg cylinder had risen by 26 cents from $30.70 to $30.96, bulk LPG rises by 2 cents from $2.17 to $2.19 and auto gas by 1 cent from $1.45 to $1.46.
