GOVERNMENT INCREASES FUEL PRICES WHICH WILL TAKE EFFECT ON MAY 08, 2022
May 7, 2022, | Business News | 0 |
The Ethiopian Ministry of Trade & Regional Integration has increased fuel prices by almost 5 birr for Benzine and 6.50 birr for diesel. Starting from May 08, 2022 (Miazia 30, 2014 E.C) new fuel prices will take effect.
The last price increase was in December 2021, when prices were set at 31.74 birr/ltr for benzine and 28.98 birr/ltr for diesel. The government has been spending 12.8 billion birrs per month to subsidize oil prices.
According to an official statement from the government, if the government stops subsidizing fuel, Benzine prices would increase to 73 birr/ltr while diesel prices would soar to 66.78 birr/ltr.