FUEL PRICES INCREASE IN FRENCH POLYNESIA

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PAPEETE, Tahiti (April 27, 2000 – Oceania Flash/SPC)---French Polynesia officials have announced a 7% price increase for car fuel and 9% for other oil-derived products, effective May 1st, the daily newspaper La Dépêche de Tahiti reports.

This makes the price of a liter of super grade fuel a maximum of 127 French Pacific Francs (just above the US$ 1.00 mark), 121 CFP for a liter of unleaded fuel and 68 CFP for a liter of kerosene, French Polynesia economy minister Georges Puchon announced.

Puchon said although prices had remained stable in French Polynesia since July 1997, the rise, which was due to the increase in the world price of oil, had also taken place in most countries worldwide, for the same reasons.

French Polynesia's cabinet reviews the price of fuel every four months, based on world oil prices, importation costs and other taxes.

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