15 Jan 2015

Pacific countries urged to make most of falling oil prices

3:49 pm on 15 January 2015

An energy expert from the Secretariat of the Pacific Community says countries in the region should take the opportunity of falling oil prices to invest more funds in sustainable energy resources.

SPC's Deputy Director of Energy Solomone Fifita says the fall in oil prices will provide some relief to the region, where prices for fuel rank among the highest in the world due to importing costs.

But Mr Fifita says that commitments made by governments towards increasing reliance on renewable energy means Pacific countries wont be affected as much by changing oil prices in the future.

"Regardless of how long this decrease in price will last, it is to the advantage of small island countries in the Pacific to continue to pursue using renewable energy and energy efficient technologies."

Solomone Fifita, SPC's Deputy Director of Energy.