Attorney General, Aiyaz Sayed-Khaiyum (left) and Fiji Commerce Commission chairman, Dr Mahendra Reddy explaining the fuel price changes at the Attorney-General chambers in Suva yesterday. Photo: RONALD KUMAR
By MARAIA VULA
Fuel prices for motor spirit and premix will be cheaper today.
The price of motor spirit decreases by three cents per litre to $2.59 and premix by four cents per litre to $2.51.
But the price of kerosene increases by one cent per litre to $1.91 and diesel by two cents per litre to $2.39.
The price of Liquefied Petroleum Gas (LPG) in cylinders and in bulk increases by six per cent and in auto gas by eight per cent.
The price of a 4.5 kilogram cylinder increases by six per cent to $18.35 while 12 kg cylinder is up by six per cent to $48.92.
Bulk gas price goes up by six per cent to $3.28 per kg while auto gas prices increased by eight per cent to $2.36 per litre.
The price changes are due to movement in the international markets and fluctuations in exchange rates as announced yesterday at a press conference at Suvavou House.
The Attorney-General and Minister for Industry and Trade, Aiyaz Sayed-Khaiyum, said the Commerce Commission constantly monitored international prices.
Alternative fuel sources
Mr Sayed- Khaiyum said: “Bulk of the energy sources that we depend on is imported that is why we don’t have absolute control of pricing. “
He added it was absolutely critical that Government provided the impetus for a greater dependency for sourcing of renewable energy.
Commerce Commission chairman Dr Mahendra Reddy said: “The increases in this quarter were not as significant as they might have been. Because the Fiji dollar has strengthened against the US dollar, having a positive impact on local prices.”
Mr Sayed-Khaiyum said that the Bainimarama Government is continuing to focus on developing alternative fuel sources so that Fiji was less exposed to the price fluctuations of the international markets.
“The Government believes in greater energy independence for Fiji and we’re making this dream a reality through generous tax incentives and direct investment in biofuels and renewable energy,” he said.
“Also we are encouraging the Fiji Electricity Authority to get more renewable energy sources to counter spending close to billion dollars a year in importing fuels.”
Stakeholder reactions
Fiji Bus Operators president Virendra Kewal said: “Definitely this diesel price increase will dramatically affect the bus industry as it’s a major component to buy every day.”
Mr Kewal added that they would meet in the near future to discuss this issue.
Fiji Taxi Union acting secretary Harish Chandra said: “It’ll hit the taxi industry because taxi drivers are struggling to make end meets. Especially when spending $60 per day on motor spirit, diesel and LPG.
“Fuel companies in Fiji are well established and have infrastructures and they can easily absorb the fuel prices if there’s an increase in fuel importation prices,” he said.