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 by D2 per litre. This will help ease the burden on the general public. The recently announced Price Structure will now be as follows:
PMS: D 77.89 per litre (Petrol)
AGO: D 73.00 per litre (Diesel)
While government continues to subsidise the pump price for diesel, we hope that global oil prices may soon stabilize. Thus, the government will continue to monitor oil prices and any further reduction will be passed on to consumers in the country.
Government takes this opportunity to thank our stakeholders and private sector players for the continued support and understanding as we all journey through these trying times.