The Gambian government has increased retail fuel prices for August, citing higher international prices for refined petroleum products.
The Ministry of Petroleum, Energy and Mines said in a statement that the new prices, approved after the monthly fuel price review, took effect on Aug. 1.
Under the revised prices, petrol (PMS) will retail at 104.18 dalasis ($1.42) per litre, diesel (AGO) at 116.63 dalasis ($1.59) per litre and kerosene at 99.62 dalasis($1.36) per litre.
The ministry said the increases from July reflected higher international benchmark prices for refined petroleum products during the latest pricing cycle.
It said the monthly review is conducted under the government’s petroleum pricing framework, which takes into account international refined fuel prices, import costs, exchange rates, statutory taxes and levies, and other pricing components.
The ministry said these factors are assessed each month before new pump prices are set.
It said it would continue to monitor developments in international oil markets and adjust domestic prices as necessary in line with the pricing mechanism.
Monthly fuel price adjustments have become routine under the government’s review system, with domestic pump prices largely influenced by movements in global oil markets and the exchange rate.
The latest increase is expected to raise fuel costs for motorists, transport operators and businesses, potentially putting upward pressure on transport fares and the prices of goods and services.
The ministry said it remained committed to implementing the pricing framework transparently while responding to changes in international market conditions.
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