Ethiopia has raised retail fuel prices for the second time in just a month with the price of benzene and diesel showing a 17.6 percent and 10.7 percent respectively, APA can report on Tuesday.
Accordingly, benzene is sold for 167.50 Ethiopian birr ($1.07) per litre while white diesel is sold at 180.46 birr ($1.15) per litre.
The latest schedule sets the retail price of kerosene at 320.66 birr per litre, more than double the April price of 151.39 birr. Jet fuel has also risen sharply to 319.76 birr per litre, compared with 150.48 birr under the April adjustment.
Under the new retail price schedule, light black diesel is now priced at 170.62 birr per litre, while heavy black diesel is priced at 167.37 birr per litre. In April, light black diesel was priced at 163.98 birr, and heavy black diesel at 160.68 birr per litre.
The sharpest increases are in kerosene and jet fuel. Kerosene, which was priced at 146.14 birr per litre before April, has now risen to 320.66 birr, an increase of 174.52 birr, or about 119 percent, in less than two months. Jet fuel has risen from 145.23 birr to 319.76 birr over the same period.
The April 1 adjustment was made in response to developments in global oil prices, according to reports citing a letter from the Ministry of Trade and Regional Integration. The new prices at the time took effect at midnight on April 1.
The latest increase comes as the government continues to reduce the gap between domestic pump prices and the cost of imported petroleum products.
Ethiopia’s fuel subsidy burden had reached nearly 272 billion birr ($1,731,656,850) while officials said the government was still subsidizing about 71 birr per litre of diesel and 32 birr per litre of petrol even after the April price revision.
MG/as/APA