FUEL PRICE REDUCTIONS “GREAT NEWS FOR CONSUMERS”

The cost of fuel has fallen across the board in the latest quarterly review of prices by the Commerce Commission based on exchange rate and market fluctuations.

 

The price of motor spirit fell three cents at midnight from $2.63 to $2.60, premix was down two cents from $2.55 to $2.53, kerosene by five cents from $1.87 to $1.82 and diesel by four cents from $2.35 to $2.31.

 

There is also a fall in LPG prices for the third quarter of 2014. A 4.5 kilogram cylinder is reduced by $1.49 from $18.35 to $16.86 – a fall of more than 8 per cent. A 12 KG cylinder comes down by $3.95 from $48.92 to $44.97, bulk LPG falls by 26 cents from 3.28 to $3.02 and Auto Gas by 18 cents from $2.29 to $2.11.

 

The reductions were described as “great news for Fijians consumers” by the Attorney General and Minister for Industry and Trade, Aiyaz Sayed-Khaiyum. “After a period in which most prices have trended upwards, it’s wonderful to see these reductions across the board”, he said.

 

The Minister said every sector of the Fijian economy stood to benefit. “Whether you’re an ordinary motorist, a transport operator dependent on diesel, someone living in a maritime community and dependent on pre-mix, or a householder dependent on LPG, everyone stands to gain and will have more money in their pockets”, he said.

 

“As everyone knows, we are a price taker in Fiji and have no control over what happens in the international marketplace. But it’s extremely gratifying when price pressures are downward and every Fijian can reap the benefit”, the Minister added.

 

Table 1: Summary of Price Changes per Litre

 

Product Current Prices

($)

Revised  Prices

($)

Price Change

($)

Price Change

(%)

Motor Spirit 2.63 2.60 (0.03) (1.13%)
Premix 2.55 2.53 (0.02) (0.86%)
Kerosene 1.87 1.82 (0.05) (2.92%)
Diesel 2.35 2.31 (0.04) (1.71%)

*Prices will vary outside the cities of Suva and Lautoka and the Town of Lami

 

Table 2: LPG Price Changes 

 

Product Type Current Prices

($)

Revised Prices

($)

Price Change

 ($)

Price Change

           (%)

4.5KG Cylinder 18.35 16.86 (1.49) (8.10%)
12KG Cylinder 48.92 44.97 (3.95) (8.07%)
Bulk (KG) 3.28 3.02 (0.26) (8.01%)
Auto Gas (Litre) 2.29 2.11 (0.18) (7.86%)

**Prices will vary outside Viti Levu and Vanua Levu

 

The above prices are effective from 15 July, 2014.

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