July 13, 2017 2:24 pm

Fuel prices going down from Saturday

The government today announced a reduction in the price of fuel and LPG products from Saturday (15/07/17).

There is a decrease in Fuel and LPG prices for the 3rd quarter 2017 review.

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

fuel-july-2017-table-2

“The price changes in Fuel and LPG is a direct impact of the international market influence given that Fiji is a price taker to world market prices for both refined oils and butane,” said Minister for Trade, Faiyaz Koya.

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

In a press conference today, Minister Koya said the reduction was due to:

  • production cuts until March 2018, by petroleum suppliers;
  • increase in the US petroleum production;
  • higher demands for refined petroleum for this quarter; and
  • strengthening of the trading currency (US dollar).

The prices are reviewed three-monthly by the Fiji Commerce Commission.