January 14, 2017 4:51 pm

Fuel prices increase from Sunday

The government has approved an increase in prices for fuel and LPG products based on the latest review of rates by the Fiji Commerce Commission.

(Fiji Commerce Commission)
(Fiji Commerce Commission)
(Fiji Commerce Commission)
(Fiji Commerce Commission)

Trade Minister Hon Faiyaz Koya said the increase in refined petroleum product prices for the review period of October to December 2016 were attributed to declining global inventory levels, higher demands for refined petroleum for this quarter, and strengthening of the US dollar.

The new prices for Fuel and LPG will come into effect on 15 January 2017.

According to Minister Koya,  fuel and LPG prices are reviewed every quarter, as opposed to every month, to maintain price stability.

Minister Koya added that in spite of the quarterly increase, fuel prices were lower than prices in the same period last year.