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The price of kerosene drops by three cents a litre in Fiji from today.
Although diesel drops one cent a litre to $1.77 per litre, the Prices and Incomes Board said the prices of motor spirit and premix outboard fuel would remain at $2.13 and $2.05 per litre respectively.
The PIB said the new prices were based on February 2010 world market prices.
“The prices have been particularly volatile following increased activities in future markets,” the PIB said.
“This is attributed to falling demand due to winter temperatures retreating from unusually low levels in Europe.”
A stronger US dollar and downward corrections in the equity market also contributed to the decline in world market prices, the PIB added.
