The Ministry of Energy, Petroleum and Mines stepped up yesterday to shed light on a probable increase in fuel prices.
“News reports a probable increase in fuel prices, following the joint decree setting the rate and base of the fee from the Energy Sector Regulatory Commission (Crse). On the contrary, the government is working with all the services concerned, under the supervision of the Ministry of Energy, Oil and Mines (Mepm), for a reduction in the prices of petroleum products and electricity, as well as better targeting of the subsidy. The work is advanced and the results will be shared as soon as possible,” notes the Mepm Communication Unit in a press release.
Before specifying: “The fee has always existed and operators in the sector have always paid it since its creation in 1998 at the former Electricity Sector Regulatory Commission. Due to the extension of regulation to downstream hydrocarbon activities and the downstream and intermediate gas segments, it appeared legitimate to extend the payment of this fee to operators operating in the newly regulated sectors.
In addition, the fee is designed to be fair and proportional to the activities of the actors in the sectors concerned: electricity, downstream hydrocarbons, intermediate and downstream gas. In fact, none of the players holding an import, storage, transport and/or distribution license in downstream hydrocarbons, intermediary and downstream gas, pays royalties as is the case in other sectors, while Crse ensures, among other things, to guarantee their financial viability…”
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