\\ Suva, Fiji – 24 March 2026
The Fiji-Australia Business Council today hosted an online member-exclusive session, “From Wells to Wallets”, to address urgent economic risks from global oil market volatility. The session, led by Mr. Ariff Ali, Governor of the Reserve Bank of Fiji, and Mr. Jatin Kumar, Head of Commercial Operations & Sales at Petro Oceania Energy, gave members critical insights into how ongoing conflicts in the Middle East are directly impacting Fiji’s fuel supply and inflation. A large number of members from FABC and AFBC dialed in.
The Governor warned that fuel prices could rise by up to 50%, potentially driving inflation higher than at any point in recent years, with bus fares and transport costs doubling for many Fijians. Mr. Kumar outlined the logistical challenges facing fuel supply, including limited tanker capacity and 60–90 day stockpiles, highlighting how fragile the system can be in times of global disruption. Speakers stressed the urgent need for clear communication, market-based pricing, and strategic planning to mitigate these economic shocks.
The session underscored the importance of preparedness, long-term energy diversification, and fiscal prudence. Members left with actionable insights on monitoring fuel prices, managing operational costs, and navigating potential policy changes.
President Himen said this session reflects the Council’s commitment to delivering timely, practical intelligence when it matters most. By joining FABC, businesses gain access to exclusive briefings with senior policymakers and industry leaders, helping them stay ahead of fast-moving global developments and make informed decisions in a volatile economic environment.
L-R: Christine Lyons (FABC Board Executive), Jatin Kumar (Petro Oceania Energy), Ariff Ali (Governor of the Reserve Bank of Fiji), Glenis Yee (FABC Board Executive), Himen Chandra (FABC President), and Saud Minam (FABC Vice President). Picture: The Greenhouse Studio.
