The Consumer Council of Fiji is calling for an urgent review of the current fuel price announcement process, saying the "last-minute" strategy is causing panic-buying, long queues, misinformation and opportunities for unethical business practices.
The Council says under the current system, the fuel and LPG prices regulated by the Fijian Competition and Consumer Commission are announced on the final day of each month and take effect just hours later on the first day of the following month.
They say the most recent fuel price adjustment announced at 7pm on May 31st, just five hours before taking effect, triggered widespread panic-buying at service stations, resulting in long queues and confusion fueled by social media speculation.
The Council says it also received reports that some LPG suppliers allegedly withheld gas supply and claimed they were out of stock in anticipation of higher prices, a practice it says has been observed before during planned price adjustments.
Council CEO Seema Shandil says consumers and businesses need more notice during what she describes as an extraordinary global fuel crisis.
Shandil says waiting until the final hours of the month to announce major price increases creates anxiety, causes congestion at fuel stations and opens the door for unethical traders to exploit the system.
She is urging regulators to provide consumers with advance indicators of expected fuel price movements, allowing households and businesses to better plan their spending and reducing the rush to purchase fuel before price changes take effect.
The Consumer Council is recommending two key changes: providing a general outlook on fuel market trends either mid-month or at least a week before price adjustments, and making final announcements during the day rather than late in the evening.
The Council also wants inspections carried out before price adjustments to prevent traders from hoarding LPG supplies and has called for strict action against businesses found engaging in such practices.
While advocating for reforms, the Council is also warning consumers against storing large quantities of fuel or LPG at home, stressing that panic-buying and hoarding pose serious fire risks to families and communities.
