NADI Chamber of Commerce & Industry president Lawrence Kumar has raised concerns about the potential impact of rising fuel prices on businesses in Fiji, amidst escalating tensions in the Middle East. In a recent interview, Kumar described the situation as a "worrying trend" and highlighted the uncertainty surrounding future fuel supplies and costs.
Kumar referenced reports from Australian media indicating that service stations across Australia are experiencing fuel shortages and are uncertain about when they will receive new supplies. This situation is particularly troubling for Fiji, as Kumar stressed the need for proactive planning to address the implications of a global fuel crisis on local businesses. He warned that any increase in fuel costs would likely be passed on to consumers, further complicating the economic landscape.
Despite reassurances from Fiji's Minister of Finance regarding existing fuel stockpiles sufficient for the coming month, Kumar emphasized the need for clarity on future supplies and their associated costs. He questioned the sustainability of relying on current reserves and urged government agencies and stakeholders to develop effective mitigation strategies. The ongoing conflict and its ramifications could significantly disrupt business operations throughout Fiji, leading to higher prices for goods and essential services if fuel prices continue to rise.
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