The Gambia has, for the past eight months in 2022, spent 1.3 billion Dalasis (equivalent of $22,750,000) in fuel subsidies in a bid to cushion customers and stabilise rising fuel prices.
This was contained in a statement issued after the government met with the Oil Marketing Companies in the West African nation.
The OMCs shut down their fuel retail outlets recently over some concerns resulting in fuel shortages across the country.
The government worked tirelessly to resolve the OMCs’ grievances, leading to the reopening of the stations last week.
“The impact of Government negotiations with OMCs is estimated to be some 18 million Dalasis additional subsidy,” the statement issued on 3rd September 2022 said.
The prices of diesel and petrol at the pump remained unchanged for September 2022.
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