Further reduction in fuel and LPG prices

September 30, 2022 4:50 pm

[File Photo]

Consumers can breathe a sigh of relief as they can expect further reductions in the prices of fuel and LPG products from tomorrow.

The Fijian Competition and Consumer Commission has determined the new regulated prices for Unleaded Petrol, Premix, Kerosene, and Diesel for October.

The price of motor spirit will go down by 17 cents to retail at $2.95 cents per litre while premix will now cost $2.77 per litre which will decrease by 16 cents.

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Kerosene will now retail at $2.41 cents per litre from tomorrow while diesel will cost $3.00 which currently retails at $3.09 per litre.

According to FCCC, a 4.5 kg cylinder will decrease by 30 cents to sell at $15.83 while a 12 kg cylinder will cost $42.22.

Bulk gas will retail at $3.26 while autogas will cost $2.17 from tomorrow.

FCCC Chief Executive, Joel Abraham is urging traders to ensure that customers are charged the correct price.

He says usually when prices go up, the business are compliant however in certain instances non-compliances are noted when prices go down.

“We want to say that whatever the drop is just understand that the fines that has been imposed by the courts in the last months has been $25,000 upwards. It will take you a lot of ten and 20 cents to gather the $25,000 so don’t engage in that practice. We will not think twice before charging a particular business.”

The fuel price review in Fiji follows a one-month lag period and as such, October’s local fuel prices are based on imports made this month by fuel companies.

FCCC has applied September Saudi Aramco Butane Contract Price, while international freight rates and foreign exchange rates were based on August imports to determine LPG prices for October.

It says the major reason for the changes in local prices of fuel products in October is due to favourable movement noted in the international refined fuel prices when compared to international refined fuel prices in July.