Gambian consumers are facing another increase at the fuel pumps after the government raised petroleum prices for the second month running, citing higher international oil prices and continued instability in global energy markets.
The Ministry of Petroleum, Energy and Mines announced the new prices on September 1, saying they had been approved by the government and would take effect immediately.
Petrol is now priced at D109.80 per litre, up from D104.18 in August. Diesel has increased to D120 per litre, while kerosene now costs D112.64 per litre.
The latest adjustment comes barely a month after the government introduced another round of increases in August.
In July, motorists paid D101.10 per litre for petrol, D113.52 for diesel and D95.54 for kerosene. Those prices were subsequently increased in August to D104.18, D116.63 and D99.62 respectively.
The two successive adjustments have resulted in a substantial rise in pump prices since July.
Petrol has increased by D8.70 per litre, representing an increase of approximately 8.6 percent. Diesel is up by D6.48, or about 5.7 percent, while kerosene has recorded the largest increase, rising by D17.10 per litre, equivalent to almost 18 percent.
Middle East tensions cited
The petroleum ministry said the latest increase was driven by continued rises in international crude oil and refined petroleum product prices.
It also pointed to conflicts and instability in the Middle East, which it said had created greater uncertainty in the international oil market. According to the ministry, concerns over potential disruptions to oil production, refining operations and transportation have contributed to the pressure on global energy markets.
The government said The Gambia remains particularly exposed to such international developments because the country depends heavily on imported petroleum products.
“As The Gambia relies heavily on imported petroleum products, developments in international markets have a direct impact on the cost of fuel in the country,” the ministry said.
More pressure on consumers
The latest increase is expected to add to the financial burden facing households and businesses, while transport operators are also likely to feel the impact through higher operating costs.
Fuel prices have a direct bearing on transportation and the movement of goods, meaning sustained increases at the pump can have wider implications for the prices of commodities and services.
The government acknowledged that the latest adjustment would place additional pressure on households, businesses and transport operators.
However, it defended the decision, arguing that the new prices reflect conditions in the international petroleum market and are necessary to ensure the continued availability and stable supply of fuel in the country.
The ministry said it would continue to monitor developments in global oil markets and make further interventions when required under the country’s existing petroleum pricing framework.
It appealed to consumers and other stakeholders for understanding as the government responds to the changing international energy environment.
“The Ministry appreciates the understanding and cooperation of the public and all stakeholders as the Government continues to respond to challenges in the global energy market,” the statement said.
