Fuel price hike effective tomorrow
November 30, 2021 12:50 pm
Fuel and Liquid Petroleum Gas prices increase across the board tomorrow, marking some of the steepest hikes in recent determinations.
Motor Spirit goes from $2.53 to $2.75 per litre, an increase of 22 cents per litre; Premix increases by 21 cents to retail at $2.35 per litre, Kerosene goes up by 25 cents to sell at $1.82 per litre, and Diesel from $2.10 to $2.31 per litre, an increase of 21 cents.
A 4.5kg Cylinder of gas increases by $1.25 cents to retail at $18.11.
A 12kg Cylinder goes from $44.96 to $48.30, an increase of $3.34 while a 13kg Cylinder increases by $3.62 to sell at $52.33.
Bulk Gas increases by 24 cents per kg to sell at $3.42, and Autogas from $2.13 to $2.29, an increase of 16 cents per litre.
The Fijian Competition and Consumer Commission says the Fuel and LPG price review follows a one-month lag period and is based on the imports made in October.
It adds the increases are due to the international freight rate and the exchange rate as well as unfavourable movements in the international prices for Motor Spirit, Kerosene and Diesel.
The resurgence of lockdowns in Eastern Europe and Russia due to rising COVID-19 cases, as well as soaring cases in the UK in October, raised further concerns about near-term oil demand and weighed on oil prices.
The major reasons for the movement in prices for all LPG products are unfavourable movements in Butane Contract Price and international freight.