Get ready to dig deeper into your pockets as the price of diesel will go by up 93 cents to $3.82 per litre today.
The price of unleaded fuel will cost $3.13 per litre, up by 20 cents and premix will also go up by 22 cents to $2.98 per litre.
The price of kerosene is also going up by 59 cents and will now cost $2.99.
The cost of a 4.5kg gas cylinder will go up by 6 cents to $14.03, and a 12kg gas cylinder will go up by 16 cents to $37.58.
Bulk LPG will cost $2.89 per kg, while autogas will now cost $1.98 per litre.
The Fijian Competition and Consumer Commission says global fuel markets have been extremely volatile from March to April this year.
The FCCC says rather than passing the full cost increase on immediately, they used a gradual approach to spread the impact over time.
They say without this approach, diesel alone could have exceeded $4.50 per litre in May.
They say they chose to absorb that shock gradually rather than hit households and businesses all at once.
The Commission says motor spirit and premix prices rose because international refined fuel prices increased by 33.98 percent and freight rates by 48.72 percent while kerosene and diesel prices also increased sharply due to higher international refined fuel prices of 60.38 percent and 69.60 percent respectively, along with higher freight rates.
The FCCC stresses that at this time, Fiji’s priority remains for continuous availability and sustainability of fuel supply across the country.
They say in the current global environment, securing fuel shipments may require procurement at relatively higher costs.
The Commission acknowledges that while prices may increase, ensuring that suppliers are able to access, and secure supply is critical to prevent shortages and maintaining economic stability.
