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Gas prices to drop from Monday

 

Jul 29, 2022 07:22:48 PM

Gas prices will decrease across the board from Monday 1 August, 2022.
 
A 4.5kg cylinder of gas will cost $16.63, a 12kg cylinder will be sold at $44.35 while bulk gas has been reduced to  $3.42 and autogas dropped to $2.28.
 
The Fiji Consumer Competition Commission says cylinder price is VAT exempt price, bulk price is wholesale VAT exclusive price and autogas retail price is VAT inclusive price.
 
FCCC used the July 2022 Saudi Aramco Butane Contract Price (CP), while international freight rates and foreign exchange rates were based on June 2022 imports to determine LPG prices for August 2022.
 
As announced in the 2022 – 2023 Budget, a duty of LPG has been reduced from 4 cents per kg to 2 cents per kg.
 
The reduced duty will be applicable on LPG supplied for Autogas and power generation only. FCCC has reduced duty on Autogas, and this would be reflected in 1 August 2022 Autogas regulated price.
 
LPG price in Fiji is impacted by the movement in Saudi Aramco Butane Contract Price (Saudi CP), international freight rates and the foreign exchange rate.
 
The major reason for the decrease noted in price for all LPG products in August 2022 in the Fijian market are due to the favourable movement in July 2022 Butane Contract Price (CP), unfavourable movement in international freight rates while the US dollar strengthened against the Fijian dollar.
 
By Romeka Romena 

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