1 Dec 2008

Fiji Government agency wants to see price fall in petrol reflected in other prices

8:06 pm on 1 December 2008

Fiji's Price and Incomes Board says that the drop in the price of fuel will provide some welcome financial relief to consumers.

The cost has been cut this month with motor spirit down by 13 cents a litre, diesel 23 cents, kerosene by 28 cents and premix outboard fuel by 14 cents.

The latest cuts are the fourth after a series of rises.

At its peak, the local wholesale price for petrol was as high as two Fiji dollars 39 a litre, but it has now dropped to one dollar 70.

Senior officer with the Price and Incomes Board, Lucy Naimawi, says they expect to see the fuel price fall reflected in other costs faced by consumers.

"Expect a reduction in the distribution cost for goods and services. Yeah energy prices, we should expect reductions too. Looking at even the distribution of goods from importers probably to wholesalers and then down to the retailers. It's quite a big relief for the economy."

Lucy Naimawi of Fiji's Price and Incomes Board.