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Saturday, October 07, 2006

Price of cars that chew too much fuel should be increased

The price of cars that chew too much fuel should be increased as part of efforts to promote energy conservation, according to the import management adviser of the Forum Secretariat based in Suva, Fiji.

The adviser said that the Fiji Government should implement such measures while it secures alternative energy sources.

He said Government needed to get serious about energy conservation efforts and suggested that measures needed to be implemented in the short term so that consumers would spend less on energy.

The adviser said that there were no other options but to increase the prices of cars that consumed large amounts of fuels.

He said that any effects of such measures would be better than having increases in the cost of basic necessities such as the fuel surcharge for electricity rates and the increase in postal charges.

The price of oil is now more than US$60.00 per barrel compared to US$35.00 per barrel in early 2004.

The adviser said that countries like Fiji were vulnerable to such price volatility and the lack of access of appropriate mechanisms to mange exposure to, and the effect of further unfavourable price mechanisms.

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