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Ministry of Minerals, Energy and Water Resources (MMEWR)
DECREASE IN THE RETAIL PUMP PRICES FOR PETROL, DIESEL AND IL...
01/02/16
DECREASE IN THE RETAIL PUMP PRICES FOR PETROL, DIESEL AND ILLUMINATING PARAFFIN
DECREASE IN THE RETAIL PUMP PRICES FOR PETROL, DIESEL AND ILLUMINATING PARAFFIN
The Ministry of Minerals, Energy and Water Resources informs the general public and other consumers that the retail pump prices for petrol, diesel and illuminating paraffin will be decreased with effect from 0001hrs, Monday 1st February 2016. The price adjustments are as follows: 1. Retail pump prices for all petrol grades (unleaded petrol 93 and 95) be decreased by 15 thebe per litre; 2. Retail pump prices for all diesel grades (diesel 500 ppm and 50 ppm) be decreased by 45 thebe per litre; 3. Retail pump price for illuminating paraffin be decreased by 55 thebe per litre; and 4. Road Fund Levy be increased by 20 thebe per litre. The decrease is due to a general decline in international crude oil prices and refined product prices. Average crude oil prices have been falling mainly due to oversupply and weak global oil demand. There has been persistent oversupply with strong signs of slowing pace of economic growth in consumer countries such as China.
The Government will continue to closely monitor the development of petroleum products prices in both regional and international markets. This will enable Government to take more appropriate and informed decisions to ensure optimal price control to both the general public and the fuel supply industry. The public is encouraged to continue practicing fuel conservation measures, to save fuel and reduce the effects of high fuel costs and environmental impacts.
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