Fiji fuel prices drop, LPG costs rise

Fijians will see a welcome drop in fuel costs starting Saturday, August 1, as prices at the pump decrease by up to 50 cents per liter. Diesel users will benefit most, with prices falling by 47 to 50 cents per liter nationwide.

Motor spirit will become cheaper by 37 to 39 cents per liter, and kerosene will see a reduction of 37 to 40 cents per liter. On Viti Levu, diesel will now cost $2.92 per liter, down from $3.39. Consumers in outer islands like Rotuma will experience the largest diesel price reduction of 50 cents per liter, from $3.96 to $3.46.

However, the relief at the pump is countered by an increase in Liquefied Petroleum Gas (LPG) prices. A 4.5kg LPG cylinder will cost between 43 and 55 cents more, while a 12kg cylinder will rise by $1.12 to $1.46, depending on the location.

The Fijian Competition and Consumer Commission (FCCC) attributes the fuel price decrease to lower international refined fuel prices, adjusted freight rates, and exchange rate movements based on June imports. The rise in LPG prices is linked to higher Butane Contract Prices and a stronger US dollar.

FCCC Chief Executive Officer acknowledged the fuel price reduction as positive news for consumers and businesses but cautioned that global energy markets remain volatile. He reminded fuel retailers and LPG suppliers that the new regulated prices are enforceable immediately, with FCCC inspection teams set to monitor compliance across the nation.

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while the reduction in fuel prices is welcomed news for consumers and businesses, global energy markets remain volatile and prices could move in either direction in the coming months.