6 Aug 2008

Fiji Chamber of Commerce shocked at fuel price rise

3:38 pm on 6 August 2008

Fiji's Chamber of Commerce says it's shocked by today's petrol price rise.

Petrol has increased by 18 US cents to 1 dollar 60 US a litre, and diesel by 22 US cents to 1 dollar 55.

The interim Finance Ministry has approved the increase, which reflects the almost record international price of crude oil in June.

The Chamber's acting president, Swani Maharaj, says all businesses will feel the pinch.

"Bigger businesses have to reschedule their distribution network. so that the distribution trucks are going out just once a week or every fortnight instead of every third of fourth day and cut down other costs. But the smaller businesses, it'll be very tough for them. The retailers are complaining that consumer spending has reduced."

Swani Maharaj says it will also have an impact on the cost of consumer goods, including food.