Praneeta Prakash 
[ Source: Fiji Government / Facebook ]
Fijians may have to wait a little longer before seeing lower prices at service stations, despite a recent drop in global oil prices, says Foreign Affairs Minister Sakiasi Ditoka.
Ditoka says world fuel prices have eased significantly in recent months, falling to around US$83 per barrel after remaining above US$90 and at times surpassing US$100.
However, Ditoka stresses that the decline in international prices does not immediately translate into lower local fuel costs due to the time lag between purchases and arrival in Fiji.
He says the fuel currently being sold in Fiji was purchased when global prices were much higher, meaning consumers will not feel the impact of recent price reductions straight away.
“It’ll take some time before it has any effect on us, because there’s a lag time between when we purchase and when the effects of the future purchase hit us. That’s the lag time that’s going to cause the delay in the fuel world market prices hitting our shores. So we ask the members of the public to be understanding, because there’s this lag time that we need to take note of.”
Ditoka is urging the public to be patient as Finance Minister Esrom Immanuel will also provide an update.
The Minister adds that while fuel prices are determined by global market forces, the government has been actively working to strengthen Fiji’s fuel security through engagement with key international partners.
He highlighted discussions with Singapore, Australia and New Zealand aimed at ensuring uninterrupted fuel supplies and exploring long-term options such as strategic fuel reserves and regional fuel cooperation arrangements.
