The Minister for Commerce, Trade, Tourism and Transport, Hon. Faiyaz S. Koya, in conjunction with the Fijian Competition and Consumer Commission (FCCC), today announced the decrease in fuel and Liquefied Petroleum Gas (LPG) prices across the board. The announcement was made based on the new regulated prices of Unleaded Petrol, Premix, Kerosene, Diesel and LPG for May 2020.
With the following prices coming into effect from Friday, 1 May 2020, Fijians can expect spending less on Petrol, Premix, Kerosene, Diesel and LPG products:
Fuel Prices:
- Motor Spirit from $2.06 to $1.80 per litre, a decrease of 26 cents per litre or 12.62%
- Premix from $1.90 to $1.43 per litre, a decrease of 47 cents per litre or 24.74%
- Kerosene from $1.47 to $1.08 per litre, a decrease of 39 cents per litre or 26.53%
- Diesel from $1.71 to $1.67 per litre, a decrease of 4 cents per litre or 2.34%
LPG Prices:
- 5 KG cylinder from $14.43 to $14.03, a decrease of 40 cents or 2.77%
- 12 KG cylinder from $38.47 to $37.42, a decrease of $1.05 or 2.73%
- Bulk from $2.647 a KG to $2.605 a KG, a decrease of 4 cents or 1.59%
- Auto Gas per litre from $1.78 to $1.74, a decrease of 4 cents or 2.25%
The COVID-19 pandemic has prompted major economies into lockdown globally, imposing severe travel limitations, inevitably slowing down the significant demand for oil, mainly in transportation fuels such as Jet Fuel, Gasoline and Diesel – this drop in global oil demand is projected to continue over first half of 2020.
“On the domestic front, this decrease will allow us to take advantage of lower fuel prices. Consequently, ordinary Fijians will be able to purchase Kerosene at a lower price. Additionally, our taxi drivers, bus companies, inter-island vessels and local airlines who are experiencing relaxed business due to COVID-19 restrictions and measures will be able to procure fuel at a cheaper cost. Fijian businesses, including Micro, Small and Medium Enterprises (MSMEs), who rely on fossil fuel can enjoy reduction in their operating cost – helping their fight for survival against the detrimental impacts of COVID-19 on our economy” said Hon. Koya.
Hon. Koya further added “this is good news and provides necessary cushion to Fijian businesses and consumers”.
Fijians are also remaindered to avoid any unnecessary movement and adhere to all health measures put in place.