Prices of fuel and gas have gone down.
The Fijian Competition and Consumer Commission CEO Joel Abraham has highlighted that motor spirit or unleaded fuel has decreased by 15 cents from $2.24 per litre to $2.09 per litre.
Premix now costs $1.92 per litre – a decrease of 15 cents.
Kerosene costs $1.63, a decrease of 9 cents, while Diesel prices have decreased by 8 cents from $1.97 to $1.89 per litre.
Abraham says the price of a 12kg cylinder of gas which was $38.80 is now $36.84.
A 4.5kg gas cylinder now costs $13.81, a decrease of 74 cents.
Abraham adds that bulk gas has decreased from $2.73 per kg to $2.59 per kg- a decrease of 14 cents.
He says that the prices are mainly determined by the movement on the international prices for petroleum and LPG products since the last quarter.
Abraham says that in this quarter, crude oil production from the world’s three largest producers, USA, Russia and Saudi Arabia were at near record levels in November 2018 that had led to reduced crude oil prices.
He says that for the LGP market, it was observed that Butane prices dropped in the fourth quarter of 2018.
The Fijian Competition and Consumer Commission will conduct the next fuel review on the 15th of April, 2019.