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New fuel prices announced

September 30, 2020 10:27 am
New fuel prices will come into effect from tomorrow.

New fuel prices will come into effect from tomorrow.

The Fijian Competition and Consumer Commission has determined new regulated prices of Unleaded Petrol, Premix, Kerosene, Diesel and LPG for next month.

The price of motor spirit will increase by three cents and will now cost $1.98 per litre.

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The price of premix will increase by three cents to $1.61 per litre.

Kerosene prices remain at $1.05 per litre.

The price of diesel goes down by one cent from $1.64 to $1.63 per litre.

A 4.5kg cylinder of gas will now cost $11.66, an increase of 25 cents.

The price of 12kg gas cylinder will increase from $30.42 to $31.09, an increase of 67 cents.

13kg gas cylinder will increase by 74 cents. This will go up from $32.95 to $33.69.

The price of bulk gas will increase by 2 cents and the new price from tomorrow will be $2.15.

Autogas price will increase by one cents to $1.44.

FCCC says the fluctuations noted in local fuel prices for October are due to unfavourable movements in the international prices for Motor Spirit and Premix.

Favourable movements were noted in international price for Diesel, the international freight rates; and further weakening of the US dollar against the Fijian dollar based on August imports.

The crude oil prices extended their gains last month, climbing to a six-month high as physical market fundamentals continued to recover, and the surplus in the market eased further, which was reflected in the decline in crude oil stocks, in addition to a recovery in refinery operations and utilization rates in the main regions.

FCCC says the price of kerosene remains the same as last review period since no supplier imported kerosene for the month of August as the Aviation industry has been drastically affected due to travel restrictions imposed because of COVID-19.

The major reasons for the increase in prices for all LPG products in October are due to the overall increase noted in butane contract price, weakening of USD against Fijian dollar while the international freight remained unchanged.

The FCCC will conduct the next Fuel and LPG price review in November.

 

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