Are fuel prices falling fast enough?

Minister for Industry, Trade and Tourism Faiyaz Koya has put out a statement announcing a drop in the price of fuel. He claims this is “Fijian consumers are able to immediately benefit from the reduction” in the international price of oil. He claims “this was enabled by the flexible price determination mechanism put in place by the Government, which allows for review of prices at the end of each quarter or sooner if the price change surpasses the trigger levels”. Really? What a lot of blah blah! A six cents a litre drop! The price of fuel has dropped faster in Australia. In Fiji, as with everything else in Government decisions, any change in the price of fuel has to get the tick off from Khaiyum before it can happen.

Fiji Times January 14, 2015: Fuel prices drop

5 Responses to “Are fuel prices falling fast enough?”

  1. Koro Says:

    Every statement ministers makes are full of bull shits. They think people don’t know, these ministers makes fool of themselves.

    • saunivalu Says:

      Hahaha, Koro, They don’t make a fool of themselves ” They are fools themselves”. The fuel price should have dropped by at least 80cents by now.

  2. saunivalu Says:

    The government should be the first to take advantage of the drop in fuel prices by dropping the cost of travel to Fiji to encourage more tourist to travel there. Anyone with half a brain would see this, take heed of the cost of fuel, drop the New imposed travellers tax of 200 dollars, reduce airfares to Fiji and utilise the spending dollars of each tourist. Fiji need people with brains in these government positions to lead their department with an open mind instead of sitting on their arses enjoying tax payers money. Fiji needs a better government that rules with Freedom of speech.

  3. rahat Says:

    even fuel price drop again 5 times its went down to 44.20 barrel that means in for diesel price should be $1.60 & petrol price $1.75
    & kero $1.35

  4. RPC Says:

    The price of fuel quoted every day in the commodity market is the futures 3 month price. Prices in fiji are adjusted based on actual landed cost which is reviewed periodically.

    If world market price for crude oil falls, we will not see prices in fiji fall. This formula has been used for more than 30 years.

    Secondly, the exchange rate is another important factor. If the US$ strengthens against the F$, them domestic prices will not fall. The US$ has been strengthening against most currencies in the past few months, including F$

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