Ministry of Trade and Regional Integration (MoTI) of Ethiopia has announced today a new fuel retail prices adjustment as authorities go ahead with the plan to end fuel subsidies.
In a statement today, the trade ministry says the new petrol retail prices will be implemented as of Sunday midnight, January 8, 2023.
While the subsidy for public transport increases, the price adjustment sees the retail price for diesel car drivers and owners from 59.90 Birr a liter to 67.30 Birr. Benzene price at the pump also goes from 57.05 Birr a liter to 61.29 Birr.
According to the Trade Ministry, the pump prices for
- Benzene – 61.29 Birr a liter
- Diesel – 67.30 Birr a liter
- Kerosene – 67.30 Birr a liter
- Light black diesel – 49.67 Birr a liter
- Hard black diesel – 48.70 Birr a liter
- Airplane fuel – 67.91 Birr a liter
The latest prices mark the third adjustment since the government began phasing out subsidies at the pumps, with a plan to end subsidies in June this year, sparing the public transport sector.
In the latest adjustment, the Trade Ministry says the government has increased its subsidies for petroleum products to public transport to support low-income households.
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The amount of subsidy for benzene rises to 17.33 Birr a liter from 15.75 Birr while the subsidy for diesel has jumped from 19.02 Birr to 22.68 Birr a liter.
In total, the government spends two billion Birr a month to subsidize petrol products, according to the Trade Ministry. Fuel subsidies are reviewed every three months.