Business

Price hike for fuel and LPG products

January 31, 2025 4:37 pm

The fuel and LPG prices will increase from tomorrow.

Consumers will see a two-cent increase in all fuel prices.

Motor Spirit will retail at $2.69 a litre, Premix will sell at $2.53 a litre, Kerosene will sell at $1.80 per litre while diesel will cost $2.33 a litre from tomorrow.

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The Fijian Competition and Consumer Commission says fuel prices in Fiji are impacted by movements in the Means of Platts Singapore, international freight rates and foreign exchange rates.

The FCCC says the major reason for the increase is due to the unfavourable movement of the international refined fuel price of motor spirit and the international freight rate marker when compared to last the review.

It says while there’s favourable movements in the international refined fuel price of kerosene and diesel, this is offset by the continued strengthening of the USD currency against the Fijian dollar resulting to the overall increase in the domestic fuel product prices.

The price of a 4.5kg cylinder will increase by 25 cents to retail at $15.53, 12kg cylinder will increase by 67 cents and will be sold at $42.09 while bulk gas will be sold at $3.25 an increase of five cents.

Autogas will cost $2.28 a litre, an increase of three cents.

The major reasons for the increase noted in the proposed prices for all LPG products in February 2025 based on December 2024 imports for the Fijian economy is because Butane Contract Price remained constant when compared to the last review.

The other reason is that the average international freight increased when compared to the last review, and the exchange rate strengthened against the US dollar when compared to the last review.