The Fijian Competition and Consumer Commission (FCCC) has announced the updated regulated prices for Unleaded Petrol (Motor Spirit), Premix, Kerosene, Diesel, and LPG products, which will come into effect on January 1, 2025. These price adjustments are based on fuel and LPG import costs from November 2024, following a one-month delay for the price review process.
The FCCC’s analysis indicates that the prices for Motor Spirit and Premix will remain steady, thanks largely to favorable trends in international fuel prices and shipping costs, despite the strength of the US dollar. Conversely, Kerosene and Diesel prices are expected to rise due to increased international fuel costs and the stronger dollar. The price of LPG will also see an increase, influenced by higher Butane Contract Prices along with growing demand in global markets.
To ensure compliance with the new pricing structure at both wholesale and retail levels, the FCCC plans to actively monitor the situation. Consumers are encouraged to report any inconsistencies in pricing, and FCCC enforcement teams are available in various regions for assistance. The public is advised to stay informed about fuel prices by checking updates at local fuel outlets.
This proactive approach by the FCCC aims to maintain fair pricing in the fuel market and protect consumer interests, a positive step towards economic stability in the region. As the new prices roll out, the continued vigilance of both the commission and consumers will be crucial in ensuring accountability and transparency in fuel pricing.
In summary, while some fuel prices will increase, measures are being taken to monitor and enforce fair pricing practices, highlighting the FCCC’s commitment to consumer protection.
Leave a comment