FUEL PRICES DROP FROM OCTOBER 15
Fiji is directly impacted by world market prices for both refined oils and LPG
Fijians can expect reduced prices from October 15 after new prices for LPG products have been determined by the Fijian Competition and Consumer Commission (FCCC).
Prices are mainly determined by the movement in international prices for LPG products since the last quarter.
“In this quarter, the LPG market was supported due to strong Middle East exports, including those from Iran, that continued to pressure the Arab Gulf market. In addition, demand in China was at a seasonal calm and buyers in India were well-stocked from the elections and many had delayed their purchases to avoid port congestion issues,” said FCCC CEO Joel Abraham. “Furthermore, butane prices had found support from India’s growing demand, while Middle East supply of butane and mixed cargoes had been limited by lower Iranian exports.
“The changes in prices for LPG products are also impacted by the favourable movement in the international freight rates and the slight weakening of the US dollar against the Fijian dollar.”
Fiji is directly impacted by world market prices for both refined oils and LPG. As such, any changes to the world market prices will be reflected in LPG prices in the Fijian market. FCCC is committed to protecting all Fijian consumers and price regulation is one of the many ways of ensuring fairness in the market. For more information/details on this please contact the FCCC on www.fccc.gov.fj or call 8921991.