Fuel prices to increase from tomorrow
October 13, 2018 9:47 pm
Fuel prices will increase from tomorrow.
The price of Motor Spirit will increase by six cents per litre and will cost $2.24, premix outboard fuel will increase by five cents per litre and will cost $2.07.
Diesel will increase by seven cents and cost $1.97 per litre from tomorrow while the price of kerosene will increase by four cents and will now cost $1.72 cents per lire.
Fijian Competition and Consumer Commission chief executive, Joel Abraham says it is important to remember these prices are determined by the international markets.
“Unfortunately OPEC could not meet its commitment to produce one million metric tonne per day of crude oil from 1st July 2018 and because of this there was constraints on supply and this has caused an increase in the prices. Unfortunately this price increase is out of Fiji’s control as we are price taker in the global fuel market.”
Abraham says FCCC constantly monitors international prices and will always pass on reductions where possible.