The Fijian Competition and Consumer Commission (FCCC) has announced an increase in fuel prices, which will take effect on March 1. The new prices reflect several adjustments: motor spirit will rise by nine cents to $2.78 per liter, premix will increase from $2.53 to $2.59, kerosene will see a seven-cent hike to $1.87 (excluding VAT), and diesel will experience the largest increase of 12 cents, bringing its price to $2.45 per liter.
On a brighter note for consumers amid these fuel price hikes, there is a decrease in the prices of gas cylinders and auto gas. A 4.5 kg gas cylinder will drop by 24 cents to $15.54, while a 12 kg cylinder will fall by 65 cents to $41.44. Additionally, autogas prices have been adjusted to $2.25 per liter.
The FCCC has committed to its regulatory role by conducting inspections at retail and wholesale outlets as well as service stations to ensure adherence to set prices. They have reiterated that the figures provided are maximum allowable prices, meaning that retailers are permitted to sell at or below these levels.
These price adjustments take into account both local and international market fluctuations, allowing consumers to feel some relief in LPG product prices as the FCCC continues to monitor compliance. While the rise in fuel prices poses challenges for many, the reduction in the cost of gas cylinders alongside vigilant regulatory oversight offers a hopeful and balanced outlook during these times of economic transition.
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