The Fiji Institute of Chartered Accountants (FICA) has warned that expected fuel supply shocks from escalating geopolitical tensions in the Middle East pose real risks to global fuel chains and could have significant knock‑on effects for Fiji and the wider Pacific. The accounting body urged businesses and households to take practical preparedness steps now, noting recent domestic fuel price adjustments that took effect from April 1 as an early sign that international developments are already filtering through to local costs.
“While Fiji currently has shipments scheduled in the near term, it is important that we do not take this position for granted,” FICA president Sharvek Naidu said in a statement on Thursday. He warned that any sustained constraints in supply would ripple across the economy — raising transportation and logistics costs, increasing the price of goods and ultimately pushing up the cost of living for Fijians.
FICA set out concrete measures it wants organisations and individuals to begin implementing immediately. Those include reviewing business continuity and operational plans, considering flexible work arrangements where appropriate to reduce commuting fuel demand, and promoting the efficient and responsible use of fuel and other resources. “Preparedness is key,” Mr Naidu said. “The earlier we begin to plan and adapt, the better positioned we will be to manage any potential disruptions.”
The warning comes as the conflict between Israel, the United States and Iran moves into its 35th day, a confrontation that FICA says has triggered what the International Energy Agency (IEA) has described as the worst global energy crisis in history. The IEA has estimated supply disruptions of about 11 million barrels per day — a shock the agency says exceeds the combined impact of the 1970s oil crises — and noted that damage to oil and gas infrastructure in the Gulf and severe restrictions on shipping through the Strait of Hormuz are key factors.
For Fiji, a small island economy heavily dependent on imported fuels, those global shortages translate into elevated economic risks even if immediate deliveries remain scheduled. The Fijian government has previously said it is monitoring international developments and stands ready to act to protect economic stability; Finance Minister Esrom Immanuel has earlier emphasised that Fiji will assess global conditions and respond as needed to support vulnerable households and businesses.
FICA urged that the focus not be limited to fuel prices alone, highlighting the potential for cascading effects across supply chains and the wider economy. The institute said it will continue to promote informed dialogue on economic risks and encourage practical responses by firms and community groups to build resilience during the unfolding crisis.
As global energy markets remain volatile, FICA stressed collective responsibility and vigilance, calling on both the private and public sectors to revisit contingency plans and conservation strategies so Fiji can better withstand any escalation in international supply disruptions.
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