The Ministry of Trade & Industry has revised the retail price of jet fuel by 3.53 Br a litre to 38.65 Br effective from March 6, 2021. The price was also revised on January 1, 2021 and has shown an overall increase of 5.89 Br since the beginning of this year. In addition to jet fuel, the Ministry has also revised the retail price of other fuel types including benzene, ethanol mixture with benzene, white diesel, kerosene, and heavy black diesel. The price increases for these products range from 0.01 Br to 0.14 Br. The revision comes on the tail of major price adjustments that were made in the first two months of 2021. In January, the price for a litre of benzene increased from 21.53 Br to 23.67 Br. Then in February, a nine percent increase pushed the price to 25.82 Br a litre. Recently, the government that has been putting 24 billion Br a year into subsidising fuel imports, announced that it will gradually phase out the subsidy scheme to narrow the budget gap.
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