29.4 C
City of Banjul
Saturday, September 24, 2022

Gov’t ends fuel scarcity after deposing D18 million subsidy

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By Omar Bah

The Gambia Government has reached an agreement with oil marketing companies (OMC) who shut down pump stations across the country from Friday to Saturday in an attempt to force the increment of fuel prices.

The OMCs refused to sell after the government turned down their demand for prices to be revised upwards.

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A compromise was reached late Saturday afternoon at a meeting that lasted hours at the Petroleum House involving government officials and the dealers which saw the dealers agree to resume selling fuel at its current price.

According to the government spokesperson, the impact of the government negotiations is estimated at D18 million additional subsidy.

The spokesman said from January 2022 to date, the government provided at least D1.3 billion in subsidies to help stabilise the prices of fuel. “The subsidy for September 2022 alone is some D5.6 million,” he added.  

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Meanwhile, the Ministry of Finance and Economic Affairs has announced that a litre of petrol will be sold at D78.89 while diesel will be sold at D75.

Reactions

Responding to standoff, Deputy Speaker Seedy Njie told The Standard: “I want to urge the Ministry of Energy and the Gambia National Petroleum Company to double up in ensuring that in 2023, they increase their service stations in all regions of the country as well as ensure that enough fuel is available and our reserves are at full capacity at any giving time. This is the surest way of ensuring nobody holds innocent ordinary Gambians to ransom.”

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