New fuel template for Fiji soon: Dr Reddy

Expect a major change in Fiji’s fuel template soon reveals Commerce Commission Chairman Dr Mahendra Reddy.

Speaking to FijiLive Dr Reddy said the Commerce Commission has given a draft of the new fuel template to fuel companies to have a look and make further submissions.

“A three weeks timeline was given to fuel companies and we are into the second week now,” he said.

Dr Reddy said once the submission timeline is over than a new announcement time will be set following various considerations from the commission.

He said the fuel template computes the fuel prices and a change in the template will mean a change in the fuel prices.

“The fuel template involves all the costs and fuel variables and works out the fuel price,” Dr Reddy said.

By Nasik Swami