MOTOR SPIRIT AND PREMIX DOWN, LPG UP IN NEXT QUARTER ENERGY PRICES

The price of Motor Spirit and Premix will drop and the price of Liquefied Petroleum Gas (LPG) will rise at midnight tonight in the wake of the latest quarterly review of prices by the Commerce Commission.

Within the petroleum products category, the price of Motor Spirit drops by three cents a litre and Premix by four cents a litre, while the price of Kerosene increases only slightly by one cent a litre and Diesel by two cents a litre.

LPG in Cylinders and in Bulk rises by six per cent and in Auto Gas rises by eight per cent.

The price changes are due to movement in the international markets and fluctuations in exchange rates.

The Attorney-General and Minister for Industry and Trade, Aiyaz Sayed-Khaiyum, said the Commerce Commission constantly monitors international prices and will always pass on reductions where possible, as in the case this quarter of Motor Spirit and Premix.

“But it’s again important to remind Fijian consumers that prices are determined by the international markets, freight rates and exchange rates, and price increases are unavoidable,” he said.

However, he said that the increases this quarter were not as significant as they might have been because the Fiji dollar has strengthened against the US dollar, having a positive impact on local prices.

The Attorney-General said that the Bainimarama Government is continuing to focus on developing alternative fuel sources so that Fiji is less exposed to the price fluctuations of the international markets.

“The Government believes in greater energy independence for Fiji and we’re making this dream a reality through generous tax incentives and direct investment in biofuels and renewable energy,” he said.

The price increases that come into effect at midnight tonight are as follows:

Petroleum products:

1. Motor Spirit: a decrease of three cents a litre (1.15%) from $2.62 to $2.59.

2. Premix: a decrease of four cents a litre (1.57%) from $2.55 to $2.51.

3. Kerosene: an increase of one cent a litre (0.53%) from $1.90 to $1.91.

4. Diesel: an increase of two cents a litre (0.84%) from $2.37 to $2.39.

LPG:

1. 4.5 KG cylinder: Increase of 6% from $17.25 to $18.35.

2. 12 KG cylinder: Increase of 6% from $45.99 to 48.92.

3. Bulk (KG): Increase of 6% from $3.09 to $3.28

4. Auto Gas (Litre): Increase of 8% from $2.17 to $2.36.

-ENDS-

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