Members of the public can expect an increase in prices of petroleum products from Monday, January 17.
The price of motor spirit will increase by 16 cents per litre, premix outboard fuel will increase by 20 cents per litre, diesel will increase by 12 cents per litre while kerosene will increase by 11 cents per litre.
The new price of motor spirit will now be $2.37 per litre, premix outboard fuel will be $2.33, diesel will cost $2.07 while kerosene will be $1.68 per litre.
When announcing the increase Attorney- General Mr Aiyaz Sayed-Khaiyum said the sole reason for the increase in petroleum price was the world market price movement, which had been a result of inter alia strong demand from Europe and North America as they experienced a harsh winter.
“There is a direct impact of fuel price worldwide. Unlike Fiji, much fuel is used for heating and power generation in the northern hemisphere and therefore pushing prices to trading peaks of around $US98 ($178) per barrel in December,” Mr Sayed-Khaiyum said this morning.
He said this demonstrated how Fiji like other non-oil producing countries and small economies were vulnerable to global trends in oil prices.
“It’s completely out of our control. But what it does it brings home is the point that we must facilitate and use energy sources that are renewable. We must use this energy wisely and must be frugal about using energy,” Mr Sayed-Khaiyum said.
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