RETAILERS are warning of further price increases across goods and services, as global fuel and freight pressures continue to impact import-dependent economies like Fiji.
Jitesh Patel, president of Suva Retailers Association, said businesses are not expecting any relief in operating costs despite stable fuel supply, as international price pressures continue to filter through the supply chain.
“We are actually expecting the price to go up because the fuel supply is there, but the price we’re buying it, that has gone up,” he said.
He said Fiji’s reliance on imported fuel makes it vulnerable to global market shifts.
“We are a very small country, a drop in the ocean, and we depend on others to supply our fuel.”
Mr Patel pointed to Singapore supply constraints and global demand pressures as key factors driving costs higher.
“Most of our fuel is from Singapore.”
He warned that international trends are already impacting import prices, which will flow through to local consumers.
“We are seeing reports from China, India, that prices are going up already over there up to five to 10 per cent in certain products.”
He added that freight costs and logistics pressures are further compounding the situation.
“Fiji Trades Commission has already indicated that it will go up and has already started going up by air, by sea.”
Mr Patel said retailers are attempting to manage costs internally, including tighter fuel use controls, but warned most price pressures will ultimately be passed on.
He added that global conditions suggest continued increases, with little relief expected in the short term and that consumers should also participate in saving fuel by at least switching off lights and electrical switches that are not in use.
