(Photo: Atlas)
By Buba Gagigo
Following a decline in oil prices globally, The Gambia has reduced fuel prices in the country for October.
The reduction followed months of price hikes in the country, since July this year.
“The Ministry of Petroleum and Energy through its stakeholders published the October 2022 Fuel Price Structure to be effective from the 1st of October 2022, After months of price hikes caused by several factors including global supply chain disruptions, and geopolitics of the world, the global oil prices are showing a marginal decline in recent days. Government, in consideration of the decline in global oil prices, has decided to reduce the pump prices…” the Ministry of Petroleum and Energy said in a statement on Sunday.
The statement said Petrol would be sold at D 77.89, while Diesel would be sold at D 73.00 per litre, effective 1st October 2022.
“While government continues to subsidise the pump price for diesel, we hope that global oil prices may soon stabilise. Thus, the government will continue to monitor oil prices and any further reduction will be passed on to consumers in the country…,” the statement concluded.
Meanwhile, until this development, Petrol was sold at D78.76; while Diesel at 73.78; and Kerosine at D89.78 per litre, since 1st July 2022.