There are positive indications that consumers can soon expect prices of food items and other basic necessities to decrease in the coming months as reduced fuel prices come into effect from today.
As the Prices and Incomes Board announced a reduction in fuel prices, Fiji Chamber of Commerce President Swani Maharaj said heading into the festive season, prices of several other items are expected to stabilize with consumers having to fork out less from their pockets.
The Prices and Incomes Board said the drop in oil prices reflect concerns that the financial crisis in the US and Europe will lead to a global slowdown and drop in demand for oil and the next few months should see price reductions in the Fiji market.
Meanwhile, effective from today, the price of motor spirit decreases from $2.27 to $2.16 per liter, a decrease of 11 cents.
The price of diesel decreases by 26 cents from $2.28 to $2.02 cents per liter.
There is a 19 cents decrease in the price of kerosene, from $2.05 to $1.86 per liter while premix outboard fuel will cost consumers 12 cents less as the price decreases from $2.22 to $2.10 per liter.
Consumers Can Expect Lower Prices
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