Ethiopia’s Ministry of Trade and Regional Integration (MoTRI) on Tuesday evening announced a decision with immediate effect to increase gasoline prices by around 13.3 percent.
In a press statement, the MoTRI said the price hike could see gasoline prices rise from 61.29 Ethiopian birrs (about 1.13 U.S. dollars) to 69.43 birrs per liter.
The MoTRI statement also said the price of one liter of diesel is similarly hiked from 67.30 birrs to 71.08 birrs. The price of one liter of kerosene is hiked to 71.08 birrs from 67.30 birrs.
The ministry disclosed that the latest fuel price hike will stand until June 7, 2023.
The Ethiopian government’s latest petroleum products price hikes came four months after the last price increases.
Ethiopia, a net petroleum products importing country, has over the last several years been bleeding much-needed foreign currency due to volatile international oil prices.
According to the latest data released by the governmental Ethiopian Statistics Service, the general inflation rate in the East African country stood at 37.7 percent in March 2023. Enditem