Jul 13 , 2024
Drivers will face higher costs at the pump after the Ministry of Trade & Regional Integration announced adjustments to fuel prices. The changes, effective last week, reflect rising global fuel prices, according to officials. The price of benzene has seen a four Birr jump to 82.6 Br for a litre. Diesel prices also rose by the same amount to 83.74 Br a litre while Kerosene and jet fuel prices are sold at 83.74 Br and 70.83 Br a litre, respectively. This marks a price adjustment in seven months. However, the news comes amidst recent fuel shortages in Ethiopia caused by multiple factors, including technical failures and flooding at Djibouti terminal. Ethiopia relies heavily on imports to meet its fuel needs, spending around 3.89 billion dollars to import 2.4 million tons of fuel through the Djibouti fuel terminal. A fire incident at this terminal five months ago also impacted the 10 million litre daily supply of diesel.
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