The Ministry of Trade and Regional Development has recently announced a new price adjustment for fuel products that will be effective from January 08, 2023, at 12:00 a.m. until February 07, 2023. This revision of retail prices will apply to all regions in the country.
The following are the updated retail prices for fuel products in Addis Ababa:
- Gasoline per liter – Birr 61.29
- White diesel per liter – Birr 67.30
- Kerosene per liter – Birr 67.30
- Light black diesel – Birr 49.67
- Heavy black diesel – Birr 48.70
- Airplane fuel – Birr 67.91
A public notice has been released by the Ministry of Trade and Regional Development outlining the details of these price adjustments. These revised prices will be implemented in all fuel stations across the country starting January 09, 2023.
It is worth noting that these price adjustments come amidst ongoing efforts to address certain deficiencies in the government’s targeted subsidy system. Despite these challenges, the price revision implemented in January is intended to increase subsidies for low-income individuals. Specifically, the subsidy for gasoline has been increased from Birr 15.76 to Birr 17.33 per liter, and the diesel subsidy has been increased from Birr 19.02 to Birr 22.68 per liter.
It is hoped that these measures will help to alleviate some of the financial burdens faced by the low-income population, However, it is important to recognize that these price adjustments may also have some negative impacts, such as potentially increasing the cost of goods and services that rely on fuel for transportation or production.