The price of premium petrol in Cote d’Ivoire has risen from 635 CFA francs per liter to 695 CFA francs, representing an increase of 60 CFA francs per liter.
This measure comes in order to “ensure an adequate supply of our country in petroleum products, while preserving the most vulnerable segments,” the Ivorian Ministry of Petroleum, Mines and Energy said in a statement.
“The government has decided to increase the price of super gasoline from 635 CFA francs per liter to 695 CFA francs per liter (+60 CFA francs per liter) as of April 1, 2022,” the statement said.
However, “the price of diesel remains unchanged at 615 CFA francs per liter so as not to have an impact on the cost of public transport and goods,” the statement said, noting that “this corresponds to an additional state subsidy of 64 billion CFA francs for the month of April 2022.”
“In total, the state will have made an effort of about 120 billion CFA francs from January to April 2022, in order to preserve the purchasing power of households living in Cote d’Ivoire,” it added.
The global economic recovery after the health crisis of Covid-19, has led to an increase in the price of oil products internationally.
Cote d’Ivoire, like all the countries in the world, has not been spared.
In this context, the Ivorian government took measures to reduce the impact of the crisis on the population and to preserve the purchasing power of Ivorians, by deciding to suspend the application of the automatic formula for setting the prices of petroleum products.
This resulted in a subsidy of 55 billion CFA francs on the price of petroleum products from January to March 2022.
However, the prices of petroleum products continue their upward trend due to the crisis between Russia and Ukraine, which explains this readjustment.
Russia and Ukraine are two major oil producing countries in the world.
The crisis between these two states has led to a significant increase in prices at the pump, both super and diesel throughout the world, particularly in Africa.
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