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Gas prices to go down from next Tuesday

Gas prices to go down from next Tuesday

By Vijay Narayan
Friday 11/10/2019

Good news for people as gas prices will go down from next Tuesday.

The Fijian Competition and Consumer Commission says a 4.5 kg cylinder of gas will reduce from $13.46 to $11.84 while a 12kg cylinder will go down to $31.58 from $35.89.

Autogas per litre will reduce from $1.69 to $1.49.

FCCC CEO, Joel Abraham says 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.

He says 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.

Abraham says the changes in prices for LPG products are also impacted by favourable movement in the international freight rates and the slight weakening of the US dollar against the Fijian dollar.

He says Fiji is directly impacted by the world market prices for both refined oils and LPG.

Abraham says any changes to the world market prices will be reflected in LPG prices in the Fijian market.

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