The prices of Unleaded Petrol, Premix, Kerosene and Diesel have been reviewed and the new prices have been determined by the Fijian Competition and Consumer Commission.
The new fuel prices come into effect from Sunday the 1st of December 2019.
As of this Sunday, the new fuel prices are as follows:
Retail Fuel Prices
● Motor Spirit from $2.19 to $2.18 per litre, a decrease of 1 cent per litre;
● Premix from $2.02 to $2.01 per litre, a decrease of 1 cent per litre;
● Kerosene from $1.57 to $1.59 per litre, an increase of 2 cents per litre; and
● Diesel from $1.85 to $1.87 per litre, an increase of 2 cents per litre.
According to the Fijian Competition and Consumer Commission, the fuel prices are determined to slightly increase for Kerosene and Diesel as these products were heavily impacted by the rise of freight rates and unfavourable movement in the international oil prices.
For the products, Motor Spirit and Premix, the prices are reduced by 1 cent compared to the last review period.
Fiji is directly impacted by world market prices for both refined oils and LPG. As such, any
changes to the world market prices will be reflected in Fuel prices in Fiji.
Due to geopolitical developments, such as the announcement of sanctions by the United States Government on two subsidiaries of one of the largest shippers in the world, China’s Cosco, leading to freight rates surging as charterers rushed to protect themselves from potential sanctions risk.
The oil market has also turned its focus to the risks and uncertainties regarding a slowdown in the world economy and concerns about the oil supply disruption seen a month earlier have faded.
FCCC says they will conduct the next Fuel price review on the 1st of January 2020