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Ethiopia Announces Fuel Price Increment

fuelThe Ethiopian Ministry of Trade and Regional Integration announced a revision on prices for fuel, starting from May 8, 2022. The Ministry cited the global surge in fuel prices as the main reason for the fuel price increment, benzene costing $1,028 per metric ton while diesel now costs $1,138 per metric ton, from up from $870 and $730, respectively, just a month ago.

The surge in fuel prices has created an added burden to the government, causing a slack of $10 billion on the fuel price stabilization fund.

Here is the revised price of the different types of fuel/gas.

Fuel Type Revised Price,
per liter
Previous Price,
per liter
Benzene 36.87 birr 31.74 birr
Diesel 35.43 birr 28.94 birr
Kerosene 35.43 birr 28.94 birr
Light black diesel 52.45 birr 23.73 birr
Hard black diesel 51.78 birr 23.29 birr
Airplane fuel 78.87 birr 58.77 birr

Source: FBC (Amharic), BBC (Amharic)