Friday, March 1, 2024
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Government unable to cushion fuel spike

Deputy Prime Minister Professor Biman Prasad says that the Government is unable to cushion the increase in fuel prices, particularly kerosene, despite it being listed on the VAT Zero Rate Products.

Speaking exclusively to FijiLive, Prof Prasad said the fluctuation in the price of fuel is determined internationally.

Prof Prasad said the Government is not able to cushion the increase.

He says whatever duty tax is there, is there, and the Government is not able to control  increasing global prices.

“This is reflected in the price in every country, not just in Fiji.”

The Minister is adamant that the war in Ukraine will end soon, as Russia and other Middle Eastern countries are holding back on production.

Prof Prasad added that Government has not added VAT on top of duty otherwise it would have been higher than what it is.

Last Saturday, the Fijian Competition and Consumer Commission announced that Fijians should expect an increase in fuel and LPG prices.

According to FCCC, motor spirit will go up by 18 cents to retail at $3.05 cents.

The retail price of premix will also increase by 18 cents, and the new price from Sunday will be $2.93.

The price of kerosene goes up by 29 cents and will retail at $2.22 while diesel will sell at $2.83 cents, an increase of 32 cents.

FCCC said 4.5 kg cylinder will retail at $14.74 while 12 kg cylinder will see an increase of $3.95, to retail at $39.30.

Bulk gas will go up to $3.03 cents and auto gas will retail at $2.12 cents.

The FCCC enforcement teams will conduct inspections at wholesale and retail outlets and service stations to ensure prices of authorised petroleum and LPG products align with the allowable maximum prices determined by FCCC.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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