Prices for benzene and diesel will go up beginning May 8, 2022. Officials at the Ministry of Trade & Regional Integration have set the price for a litre of benzene at 36.87 Br, a 16pc jump. It is an increase of a little over five Birr from what pumping stations have been charging since the last time price changes were introduced in December 2021. Diesel has seen an even steeper adjustment – a litre will retail for 34.43 Br, up 22.4pc. The measure comes a few months ahead of what officials had announced would be the start of a progressive lift-off of fuel subsidies. Beginning July 2022, the federal government plans to cut subsidies by 25pc quarterly, leaving drivers to bear the full burden of global petroleum prices by the following July. Public transport providers are to see the subsidies lifted off over a five-year period.
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