18th August 11:43 AM
FCCC catches 3 fuel traders hoarding fuel who will now face $50,000 fines
By Naveel Krishant
Wednesday 17/07/2019
[Photo: FCCC]

The Fijian Competition and Consumer Commission has caught three fuel traders hoarding and face $50,000 fines.

Hoarding is the stocking up of items for which a price increase is expected which unscrupulous traders plan to sell at the higher price for profits.

FCCC teams which were monitoring fuel and LPG traders around the country have caught 3 fuel traders breaching the FCCC Act 2010.

Acting CEO, Senikavika Jiuta says out of the 212 traders inspected only 3 were found to be non‑compliant with requirements under the FCCC Act (2010).

She says they were found to be either selling above the maximum price, failing to indicate prices or were hoarding fuel products.

Jiuta says any trader found in breach of FCCC Act 2010 will be dealt with harshly to prevent repeats of offenses and to set an example to those who may be considering similar actions.

Jiuta reiterated that Section 87G of the FCCC Act 2010 states that “a person who is in possession of goods for mercantile purposes must not destroy or hoard the goods or refuse to sell the goods or make them available for sale if the destruction, hoarding or refusal is done to charge a price higher than the price it is normally sold at a time convenient to the person or immediately before the higher price is fixed.

She says the increase in fuel prices was prompted by a movement in international prices for Petroleum and LPG products such as gas, kerosene and other fuels since the last quarter as well as the ongoing global trade tensions between China and the United States of America.

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