The main imported fuels in Fiji are diesel (over 50% of total imports), aviation fuel (-30%), and motor spirit ( - 10%). Other imported fuels include LPG, kerosene, and heavy fuel oil. The Commerce Commission regulates all retail fuel prices in Fiji, based on three-monthly submissions made by the oil companies in accordance with a pricing template (based on the cost of supply plus a return on investment for the oil companies). FEA purchases its petroleum fuel through bulk procurement arrangements with the oil companies. There are two retail suppliers of LPG in Fiji, which is used mainly for cooking, (replacing kerosene and open wood fires), although 2% of land transport vehicles also run on LPG. The government's strategy to curb petroleum imports has been to encourage the development of indigenous energy resources and investigate the potential to replace fuel imports with locally produced bio-fuels. This includes operating a pilot program to blend coconut oil and diesel (20% / 80%) as a fuel for government vehicles and for rural electrification schemes. A number of recent studies in the region have raised serious doubts about the economic viability of using coconut oil as a replacement fuel. The possibility of ethanol production in Fiji has been repeatedly considered, however its financial viability is highly sensitive to a consistent supply of feedstock, and the rapid decline of the sugar industry over the last 10 years has deterred investors. Similarly, molasses based ethanol production requires taxes and levies to be waived in order to make it financially viable as fuel supply 7 Petroleum exploration was undertaken in Fiji in the 1970s and 1980s and recoverable reserves were estimated to be up to 1 billion barrels per oil bearing structure. However there has been no further external interest in exploration and Fiji has not conducted any licensing rounds.