Gas price under review

July 14, 2012 | Filed under: Business | Posted by:

By RACHNA LAL

Government has gazetted new control on prices for the supply of LPG in Fiji.
This could essentially mean that the price of LPG, which is used by households, bulk-buyers and automobiles, would be reduced within a matter of few weeks.
The Attorney-General and Minister for Industry and Trade, Aiyaz Sayed-Khaiyum said this step had been taken because of public interest matters.
The submission to the Minister followed extensive study carried out by the Fiji Commerce Commission into the LPG market in Fiji.
“The study found that many of the pricing structures of LPG gas, is not necessarily reflective of the changes in the world market prices,” Mr Sayed-Khaiyum said.
“We believe the manner in which things have been run, we should see a decrease in the price of LPG.”
Mr Sayed-Khaiyum said the two suppliers of LPG, Fiji Gas and Blue Gas, have three week to make their submission to the Commerce Commission.
Commerce Commission chairman, Dr Mahendra Reddy, confirmed the current LPG prices are interim and a new price would be announced in three weeks time.
A Fiji Gas 4.5kilogram cylinder currently costs $21, the 12kg cylinder is $54 while the 50kg costs $215.

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