The prices of fuel and Liquefied Petroleum Gas will decrease from Saturday.

The Fijian Competition and Consumer Commission has determined the new regulated price for motor spirit, premix, kerosene, diesel and LPG products for July.

The price of motor spirit will decrease by 19 cents from $2.80 to cost $2.61 per litre, while premix will decrease by 12 cents and cost $2.50 per litre.

Kerosene will cost $1.81 per litre a decrease of 10 cents, while diesel will decrease by 14 cents from $2.36 to cost $2.22 per litre.

The FCCC says the local prices for July are based on imports made by fuel companies in May 2023.

The LPG prices will also see major decreases.

The FCCC used the June 2023 Saudi Aramco Butane Contract Price and May 2023 international freight rates and foreign exchange rate to determine the local LPG product prices for next month.

A 4.5kg cylinder will cost $12.96, a decrease of $1.43 while a 12kg cylinder will decrease by $3.81 from $38.37 to cost $34.56.

Bulk Gas will decrease by 29 cents to cost $2.67 from Saturday, while autogas will cost $1.77, a decrease of 20 cents.

The FCCC says one of the major reasons for the price decrease in refined fuel products is that there has been a positive shift in the international prices of refined motor spirit, kerosene, and diesel.