Botswana motorists woke up to higher fuel prices on Wednesday following a hike by the government in the price of petrol and diesel attributed to unstable international oil prices and rising global demand.
According to the Botswana Energy Regulatory Authority (BERA), the retail price of unleaded petrol 93 increased by 95 thebe per litre starting Wednesday, while that for unleaded petrol 95 rose by 92 thebe.
Drivers of diesel vehicles are now expected to pay 56 thebe more for a litre of diesel, while a litre of illuminating paraffin now costs 72 thebe more from Wednesday.
Acting BERA chief executive Nnosang Mhutsiwa said the price adjustments “are based on the analysis of the movement of petroleum products prices for the month of January 2023, which was characterised by the increase in average Brent Crude oil price by US$2.57 per barrel from US$81.34 in December 2022 to US$83.91 per barrel in January.”
“The rise in crude oil prices has largely been driven by China’s opening of its borders after lockdowns and expectations of a rising demand for oil,” Mhutsiwa said.
She added: “During the same period, prices of refined petroleum products also increased. Petrol grades increased by almost 11 percent, diesel by 6.6 percent and paraffin by 8.7 percent.”
JN/APA