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Fuel, gas prices to increase from tomorrow

 

Jul 14, 2016 05:34:19 PM

Fuel, gas prices to increase from tomorrow Fuel and gas prices will increase from tomorrow.

Attorney General and Acting Minister of Industry and Trade Aiyaz Sayed-Khaiyum said the cost of fuel has risen in the third quarterly review of prices by the Fiji Commerce Commission based on exchange rates, freight rates and international refined oil prices and the increase in prices is attributed to increased global demand for fuel, a weakening of the U.S. dollar and supply disruptions in global distribution channels.

The price of unleaded fuel goes up by ten cents from $1.67 to $1.77 per litre, diesel price increases by 15 cents from $1.24 to $1.39, premix will go up by 9 cents to $1.61 and kerosene will increase 16 cents to $1.16 a litre.

A 4.5 kilogram cylinder has risen by ten cents from $11.51 to $11.61. A 12KG cylinder has risen by 26 cents from $30.70 to $30.96, bulk LPG rises by two cents from $2.17 to $2.19 and Auto Gas by one cent from $1.45 to $1.46.

These prices will vary outside Viti Levu and Vanua Levu.

“Unfortunately, global demand for fuel has reached an all-time high between April and June of this year. We are all aware that Fiji is a price taker and can’t control for such fluctuations in global fuel markets.”

 However, even when taking these quarterly increases into account, fuel and LPG prices are markedly lower than prices in this same period last year,” said Minister Sayed-Khaiyum.

Table 1: Summary of Price Changes per Litre

Product

Current Prices

FJ ($)

Revised  Prices

FJ ($)*

Price Change

FJ ($)

Price Change

(%)

Motor Spirit

1.67

1.77

0.10

5.99

Premix

1.52

1.61

0.09

5.92

Kerosene

1.00

1.16

0.16

16.00

Diesel

1.24

1.39

0.15

12.10

*Prices will vary outside the cities in Viti Levu beyond 3km from any public road.

Table 1(b) – comparison

Product

Quarter 3 of 2015

Retail Price

FJ ($)

Quarter 3 of 2016

Retail Price

FJ ($)

Motor Spirit

2.21

1.77

Premix

2.09

1.61

Kerosene

1.36

1.16

Diesel

1.79

1.39

 

Table 2: LPG Price Changes 

Product Type

Current Prices

FJ ($)

Revised Prices

FJ ($)**

Price Change

FJ ($)

Price Change

          FJ (%)

4.5KG Cylinder

11.51

11.61

0.10

0.87

12KG Cylinder

30.70

30.96

0.26

0.85

Bulk (KG)

2.17

2.19

0.02

0.92

Auto Gas (Litre)

1.45

1.46

0.01

0.69

By Reginald Chandar

Rythm

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