Ethiopia’s Trade and Regional Integration ministry has announced an adjustment in the retail prices of petroleum products, effective from Tuesday, with the retailing price of benzene seeing a relatively higher surge as compared to the previous month.
The revised price adjustment, which will remain in effect for the next one month, saw the price of Benzene raised to 101.47 Birr a liter, up by 10.33 Birr.
The tariffs for both white diesel and kerosene at the pump have been increased by 8.8 Birr to 98.98 Birr a liter. Light and heavy black diesel are now sold at 108.30 Birr while the retail price for jet fuel is set at 109.56 Birr a liter.
This price adjustment comes amid fluctuations in global fuel markets and the government’s ongoing efforts to regulate fuel pricing in response to economic challenges.
The ministry has urged fuel distributors and consumers to comply with the updated prices and warned against any attempts at price manipulation or hoarding. The government continues to monitor the fuel supply chain to ensure stability in the market.
This latest revision is expected to impact transportation costs and inflation levels, with businesses and households likely to adjust their budgets accordingly.
According to the ministry, the decision to raise petroleum prices was made under the authority granted by the Council of Ministers, which permits monthly reviews and adjustments to the retail prices of petroleum products.
The latest increase in fuel prices comes three months after the government implemented an adjustment that raised retail fuel prices by up to eight birr per liter.
MG/as/APA