FUEL, LPG PRICES VARY

FROM TODAY

The price of kerosene remains unchanged as other fuel prices vary from today, the Fijian Competition and Consumer Commission said.

The price review follows a month-long lag, based on imports made in June, said general manager operations Senikavika Jiuta.

The price of fuel is impacted by international freight rates, exchange rates and movement in the Means Platts Singapore - an average assessment system of Singapore-based oil products.

The August price variation was impacted the decision include the weakening of the US dollar against the Fiji dollar, and favourable movement in international freight rates, Ms Jiuta said.

The crude oil prices continued to rise in June for the second consecutive month, driven by factors that included global oil surplus, she said.

COVID-19

“The continued spread coronavirus (COVID-19) had limited gains in crude oil prices,” Ms Jiuta said.

“The major reasons for the decrease in prices for all LPG products in August 2020 are due to decrease in butane price, international freight, and a slightly weakened US dollar against the Fiji dollar on June 2020 imports.” Ms Jiuta said the decrease in butane price for June was owed to the reduction in oil output in Saudi.

“Butane is better volume for export as butane is used less in the domestic petrochemical sector.

What’s up

•Motor spirit is now $1.96 a litre; an increase of 12 cents.

•Premix is now $1.61 a litre; an increase of 14 cents.

•Diesel is $1.63 a litre, an increase in 11 cents.

What’s down

•4.5kg cylinder of LPG is $11.54, a decrease of 32 cents.

•12kg cylinder of LPG is $30.79, a decrease of 85 cents.

•13kg cylinder of LPG is $33.35, a decrease of 93 cents.

•Bulk gas is $2.13, a decrease of three cents.

•Autogas is $1.43, a decrease of two cents.

The next fuel and LPG price review will be held on September 1.