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PETROLEUM PROCUREMENT AND MANAGEMENT - THE FIJI MODEL Regional Workshop on Petroleum Pricing; Suva, Fiji, 01 – 5 December 2014 FIJI COMMERCE COMMISSION Joel Abraham – SRF 1 OUTLINE Introduction; On-going activities related to the Fiji fuel price regulation process Rationales; Likely Impacts of changes; Conclusion; and Question(s) and Answer(s) 2 Introduction A reliable, secure and competitively priced energy supply is vital for promoting long-term economic growth and human development in the Pacific In Fiji the, the regulatory authority charged with petroleum pricing is the Fiji Commerce Commission. At a global level, although oil prices fell sharply with the onset of the global financial crisis, prices have again begun to rise in response to signs of global economic recovery. 3 Cont’d Introduction This has considerable implications for Fiji in terms of rising production and transportation costs being passed on in the form of more expensive goods and services, resulting in reduced economic activity . The current practice in Fiji is that the three multi-national petroleum companies as well as two firms engaged in LPG import and distribute products, prices of which are controlled by the Commission. 4
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