Fijians are being cautioned not to read too much into this month’s fuel price drop as international geopolitics in the Middle East remain fragile.
The Fijian Competition and Consumer Commission (FCCC) yesterday released its fuel prices determination for July, which factored in lower spot prices for crude in May, translating to reductions in the prices of cooking gas, motor spirit, kerosene and diesel in Viti Levu, Vanua Levu and Rotuma.
“While the recent reductions are welcome, FCCC notes that they should not be interpreted as a sign that global fuel markets have fully stabilised, as international energy markets remain vulnerable to geopolitical and economic developments,” FCCC chief executive officer Senikavika L. Jiuta said.
“When news of the ceasefire first emerged, we welcomed the positive developments but also urged Fijians to remain patient because we knew international markets would take time to respond,” she said.
“We’re pleased to now see those improvements beginning to ease the burden on households and businesses through lower fuel and LPG prices. However, global markets remain unpredictable, and that’s why we continue to encourage consumers to remain realistic, as international events can change quickly.”
Oil futures contracts have been trending downwards over the last two months as markets react to the possibility of a US-Iran peace pact that will ease oil tanker traffic through the Strait of Hormuz, which remains in Iran’s control.
Ms Jiuta said FCCC is closely monitoring global developments and geopolitical tensions in the Middle East to ensure consumers benefit as international prices ease while maintaining confidence in Fiji’s fuel supply.
The new local prices effective today sees diesel recording the largest reduction between $1.19 and $1.25 a litre across Fiji. Motor spirit (petrol) prices drop by 49 to 52 cents a litre while kerosene prices fall by around 42 cents a litre in most parts of the country.
LPG prices are also down 83 cents for the 12kg cylinder and 32 cents for the 4.5kg cylinder within Viti Levu and slightly more in other areas.
“Fuel prices in Fiji are impacted by movements in the Means of Platts Singapore (MOPS), international freight rates and foreign exchange rates, the major reasons for the decrease noted in the prices for motor spirit, kerosene and diesel, while price of Premix remains unchanged in July 2026,” Ms Jiuta said.
