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Ministry of Trade Announces Fuel Price Hikes 

ADDIS ABABA – Trade authorities made a new fuel retail price adjustment as Ethiopian car drivers brace themselves for a surge in fuel prices.

The Ministry of Trade and Regional Integration (MoTRI) announced its monthly price adjustment that will see fuel prices at the pump jump for the first time in four months.

The crude oil price in the global market has since hiked to $86 per barrel from $75 while naphtha climbed from $88 to $120 per barrel, the MoTRI said in a statement today.

“The decision to increase the retail prices is made to reflect the current international fuel market,” the ministry said.

Per the ministry, the government has chosen to subsidize all but 50% of the naphtha price while making the latest fuel price adjustment.

Accordingly, the average fuel prices at the pump show a seven percent increase.  

The price of a liter of diesel has jumped by 7.3% to 76.34 Birr as of Tuesday night. Light black diesel price at the pump rises 7.3% to 62.22 Birr per liter while a liter of hard black diesel is set at 61.07 Birr, up by 7.8%.

Benzene price at the pump goes from 69.52 Birr a liter to 74.85 Birr, showing a 7.6% increase. The retail price of Kerosene jumps by 7.3% to 76.34 birr per liter at gas stations.

The domestic Jet fuel price, meanwhile, shows a relatively slight increase as authorities set the price at 68.58 Birr per liter, up by close to 5% from today. 

The revised retail fuel price list

  • Benzene – 74.85 birr  a liter
  • Diesel – 76.34 Birr a liter
  • Kerosene – 76.34 Birr a liter
  • Light black diesel – 62.22 Birr a liter
  • Hard black diesel – 61.07 Birr a liter
  • Jet fuel – 68.58 Birr a liter

The latest fuel prices will be effective for the next 30 days starting from 12:00 p.m. today, August 29, 2023.

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