Increase in FEA Fuel Surcharge
FEA CEO Rokoseru Nabalarua confirms that the Commission has approved the review of the fuel surcharge from 1.88 cents to 3.23 cents per unit effective from November 1st.
Nabalarua said the recent rise in oil prices and significant change in diesel usage has made the review necessary.
He explains that the basis for the FEA's application was the diesel costs in 2006 estimated to cost $12 million a month from July to September which depleted the FEA's cash position.
Despite the increase in the fuel surcharge, the FEA stresses that this is still a 50 percent reduction from the original determination of 6.51 cents per unit announced in October last year.
The Commerce Commission confirms that the new fuel surcharge has been approved as it was agreed earlier that a 10 percent change in oil prices would warrant a review.
Consumer Council of Fiji Chief Executive Premila Kumar says with the increasing cost of living, any additional expense will be a huge burden on consumers.
Meanwhile, it has been confirmed that Thomas Raju is no longer the Chairman of the Commerce Commission as his term in office expired last Wednesday and he has gone overseas for a holiday. A new Chairman is expected to be appointed soon.
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