Fuel price timing is critical in crisis

Joel Abraham, former Chief Executive of the Fijian Competition and Consumer Commission (FCCC), highlighted that during times of uncertainty, regulatory communication should prioritize predictability over surprise. Speaking at a Fiji Business Disaster Resilience Council webinar on the fuel crisis, Abraham explained that the FCCC's adherence to a legal process before announcing monthly fuel price changes restricts their ability to communicate prices at optimal times.

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In times of uncertainty, the objective of regulatory communication should be predictability and not surprise.

Abraham asserted that clear explanations of the announcement process are as vital as informing the public about new fuel prices. He believes that stakeholders plan more effectively, consumers react more calmly, and markets function more efficiently when the decision-making journey is understood.

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Businesses plan better, consumers react more calmly and markets function more efficiently when stakeholders understand the journey that led to the final decision.

Addressing the current fuel crisis in Fiji, Abraham reframed the core issue. He stated that the critical question is not Fiji's capacity to respond to a fuel shortage, but rather whether the nation has proactively identified its critical infrastructure, mapped essential supply chains, and established agreed-upon allocation priorities before such a shortage materializes. This proactive approach, he argued, is what truly differentiates effective crisis management from robust resilience planning.

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The real question is whether we have identified our critical infrastructure, mapped our essential supply chains and agreed on allocation priorities before a shortage occurs.