Fuel and diesel prices in Fiji are set to increase starting today, as announced by the Fijian Competition and Consumer Commission (FCCC). This adjustment is influenced by fluctuations in the Means of Platts Singapore (MOPS), international shipping rates, and changes in foreign exchange rates.
The FCCC indicated that this price review for fuel and liquefied petroleum gas (LPG) reflects a one-month delay. Therefore, the fuel and LPG prices for December 2024 are determined based on imports completed in October 2024.
According to the analysis conducted by the FCCC, there will be an increase in the prices of motor spirit, premix, and kerosene in December 2024. This rise results from unfavorable trends observed in the international price of refined motor spirit, coupled with the appreciation of the US dollar against the Fijian dollar.
In October 2024, crude oil prices saw a rebound, stemming from reduced concerns about demand outlook and ongoing geopolitical uncertainties in the Middle East.
To ensure compliance with the changes, the FCCC will deploy its enforcement team to inspect wholesale and retail outlets, as well as service stations. This initiative aims to verify that the prices of petroleum and LPG products adhere to the established maximum prices.
Consumers are encouraged to report any unfair trading practices, such as hoarding or price gouging, to the FCCC enforcement teams through a designated mobile phone number or email.
While the increase in fuel prices may pose a challenge for consumers in the short term, it is important to recognize the FCCC’s commitment to maintaining price regulations and protecting consumers from unfair practices. By voicing concerns and staying informed, residents can navigate these changes more effectively.
In summary, Fijians should prepare for rising fuel costs, but the FCCC’s enforcement measures seek to promote fair trading practices and protect consumers from exploitation during this transition.
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