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#ASDailyScoop: Ethiopia sees yet another fuel price increase as government subsidy continues to phase out

Addis Abeba – The Ministry of Trade and Regional Integration announced an increase on the current retail price of fuel products effective January 08, 2023.

According to a statement released by the Ministry, the new price for a liter of gasoline will be 61 Birr and 29 cents, for white diesel 67 Birr and 30 cents as well as kerosene 67 Birr. Light black diesel will be sold at 49 Birr and 67 cents, heavy black diesel at 48 Birr and 70 cents and jet fuel at 67 Birr and 91 cents per liter.

According to the Ministry, due to transportation fees there will be slight differences in the prices in regional cities.

Similar prices increase have been made in June and September last year following a decision by Council of Minister in December 2021 to steadily cut long lasting fuel subsidization program. In September, gasoline price rose from 47.83 to 57.01 birr per liter, while kerosene and diesel price soared from 49.02 to 59.90 birr.

The subsidy however remains in place for public transportation vehicles and the subsidy given per liter of gasoline has been increased from 15 Birr and 76 cents to 17 Birr 33 cents, whereas, the subsidy for one liter of diesel is increased from 19 Birr and 02 cents to 22 Birr and 68 cents in the new price adjustments.

In November 2022, Petroleum and Energy Authority said, the cut on fuel subsidy program helped the government reduce its monthly expenses from 10 billion to 4 billion Birr. AS

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