The Gambia has reduced fuel prices despite the rising cost of the commodity on the international market fueled by the Ukraine-Russia war and low investments in oil and gas.
Petrol will now sell at 78.76 dalasi per litre(US$1.44) and diesel 73.78 dalasi (US$1.35) per litre in the month of July.
The move forms part of Gambian Government’s decision to cushion consumers.
A statement issued by the Ministry of Petroleum and Energy said fuel prices for the month of July 2022 would have been D92.95(US$1.70) for PMS( premium spirit or petrol) and D94.11 (US$1.72) for AGO( diesel).
According to the statement, Government considering the interests of all players has forgone all its revenue from petroleum products and agreed with Oil Marketing Companies (OMCs) to also reduce their margins in order to reduce the burden of the fuel price increment on the general public.
“With these efforts, the calculated pump price for PMS is D78.76 and AGOD73.78,” the statement said.
Government affirmed it’s commitment to ensuring that fuel is accessible and cost effective for the general public
Source: https://energynewsafrica.com