The Interim Cabinet has approved a three months temporary reduction in fuel prices in effect from Friday, 15 August 2008, based on a submission by Interim Finance and National Planning Minister, Mahendra Chaudhry.
The new fuel prices approved by the Interim Cabinet are:
- Motor spirit, F$2.34 per litre (from $2.44);
- Diesel, F$2.30 per litre (from $2.39);
- Kerosene, F$2.03 per litre (no change);
- Premix outboard fuel, F$2.28 per litre (from $2.38).
Rising fuel costs have added to the high import bill for the economy and business costs on a micro level for businesses in Fiji.
These changes will be reviewed again in the 2009 National Budget, as fuel prices are expected to fall during the latter part of the year.
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