Brace yourself, for the biggest fuel price increase which comes into effect from mid night tonight.

The Prices and Incomes Board has announced that effective midnight tonight the price of motor spirits will increase by 28 cents per liter, from $2.16 to $2.44, while the price of diesel increases by 34 cents per liter from $2.05 to $2.39 a liter.

The price of kerosene increases by 26 cents from $1.77 to $2.03 while pre mix outboard fuel prices increase by 22 cents, from $2.16 to $2.38 per liter.

However, the PIB has revealed that to address the increasing fuel prices, the Board has decreased the retail percentage markup of kerosene and premix outboard fuel from 10% to 7% effective from tomorrow, August 6th.

The PIB also advises that this massive increase in fuel prices is due to the large increase in the international petroleum products which have flowed through to the pump prices around the world.

The Board said Fiji has been somewhat sheltered from the global price increases until now as pricing adjustments have been deferred based on government's decision to cushion the impact of these increases.

It said the oil industry had to forego a price review in the month of July and after careful examination, the Interim Minister for Finance Mahendra Chaudhry has decided to implement prices based on the cumulative increases in the months of July and August.

The PIB said the massive increases are regrettable for all consumers buy this is an unavoidable outcome of global market pressures.