The Gambia government Monday announced a reduction of the retail price of gasoil from D120 per litre to D115 per litre thanks to a D150 million subsidy intervention.
The Ministry of Petroleum, Energy and Mines said in a statement that it is part of the government’s bid to cushion the impact of rising global petroleum prices.
”The retail price of Petrol (PMS) remains unchanged at D112.00 from the previous month. The reduction in Gasoil prices reflects the government’s commitment to easing the financial burden on households, transport operators, businesses, and other productive sectors of the economy that rely heavily on fuel consumption” the statement said.
It said despite global fuel markets being hit by volatility from geopolitical developments and international pricing trends, the government is looking to implementing targeted measures aimed at maintaining affordability and protecting the welfare of Gambians.
”To support this intervention, the government has committed over D150 million (One Hundred and Fifty Million Dalasis) in subsidy support to absorb part of the cost increases resulting from prevailing international petroleum market conditions and supply chain pressures” the statement revealed.
WN/as/APA