The price of benzene, in particular, will see a greater increase compared to the previous month.
Ethiopia’s Ministry of Trade and Regional Integration announced an adjustment in retail prices of petroleum products, which will take effect on Tuesday, with the retail price of benzene seeing a relatively higher increase compared to the previous month.
The petroleum product price adjustment, which will remain in effect for the next month, saw the price of benzene increased to 101.47 Birr per liter, up from 10.33 Birr.
Pump rates for white diesel and kerosene were increased by 8.8 Birr to 98.98 Birr per litre. Light and heavy black diesel are now sold at 108.30 Birr while the retail price of kerosene is set at 109.56 Birr per liter.
This price adjustment comes amid fluctuations in global fuel markets and continued government efforts to regulate fuel prices in response to economic challenges.
The ministry urged fuel distributors and consumers to comply with the updated prices. And he warned against any attempt at price manipulation or hoarding. The government continues to monitor the fuel supply chain to ensure market stability.
This latest revision is expected to impact transport costs and inflation levels, with businesses and households likely to adjust their budgets accordingly.
According to the ministry, the decision to increase oil prices was taken pursuant to the decision of the Council of Ministers which authorizes monthly reviews and adjustments of retail prices of petroleum products.
The latest increase in fuel prices comes three months after the government implemented an adjustment that increased retail fuel prices by up to eight birr per liter.
MG/as/fss/Sf/ac/APA
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