Friday, December 8, 2023

Why is Gambia not reducing fuel Prices? As world market price continues to plummet


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By KebbaJeffang
No official explanation could be obtained from both the ministries ofFuel Pump Prices Increase
finance and economic affairs (MoFEA) and trade, industry, regional
integration and employment (MoTIE) when this reporter made efforts to
enquire why the fuel pump prices in The Gambia are still highwhile the world market price for a barrel of crude oil is continuously
As at now, the pump prices of petrol and diesel (gasoil) at the major
filling stations are D58.77 and D56.59 per litre, respectively. In
2014, the prices for petrol and diesel were D58.52 and D55.09 per
litre, respectively.
However, the price of crude oil has dropped from $140 per barrel in
July 2014 to below $30 per barrel today, thus representing less than a
quarter of its value in less than two years.
In neighbouring Senegal, it was recently announced by energy ministry
that the pump prices of both petrol and diesel were reduced in the
wake of the global reduction of the price of crude oil.
When this reporter visited the said ministries yesterday, Tuesday,
January 19, 2016 he was unable to talk to the respective ministers or
their principal assistants i.e. the permanent secretaries on the
At the finance ministry, he was told that the finance minister was
very busy at the time. Proceeding to the office of the permanent
secretary 1, the secretary said he had gone to Kanilai.
The minister of trade and permanent secretary were also said to be indisposed.
Foroyaa will continue to enquire from the concerned
authorities why Gambia has not reduced the prices of fuel which is the trend some countries.

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