Fuel price hike: Government sets out reasons for readjustment

"The readjustment of the prices of petroleum products at the pump occurred on July 1, 2018". This is the theme of a press conference co-hosted by Ministers Diakaria Koulibaly, Hydrocarbons, Ismael Dioubaté, Budget, Boubacar Barry, Commerce and Lansana Komara of Technical Education, Vocational Training, Employment and Labor

It was for these government members concerned by the measure of the readjustment of the price of fuel at the pump to explain the reasons and especially to show their commitment to continue the dialogue with the unions around the accompanying measures of said readjustment.

The Minister of Hydrocarbons reminded, speaking of the weight of the subsidies of the impact on the budgetary objectives, that the soaring price of the barrel to the international one caused for the importers an increase of the the cost of importing refined products.

According to Diakaria Koulibaly, maintaining the price of fuel at 8,000 GNF / L forced the government to Since October 2017, to grant increasingly strong subsidies in the form of partial waiver of its rights and taxes.

Thus, he continued, from October 2017 to June 2018, the amount of the reductions in the costs of duties and taxes on petroleum taxation has evolved crescendo and amounts to an aggregate amount of about 736 billion GNF.

For this month of June, for each liter sold at the pump, the subsidy is: 1940 GNF l gasoline, 2040 GNF for diesel and 2011 GNF for kerosene

"The average price in neighboring countries like Mali, Senegal and Ivory Coast is around 11 500 / L a price differential of 3,500 FG / L. Hence the need to adjust the price of fuel in order to allow the state to consolidate its financial surface and correct accordingly the skid that prevails " explained Diakaria Koulibaly to justify the rise in the price of fuel at the

The government is accused of taking a unilateral decision for ignoring the views of the unions. In response, the ministers present at the press conference have in turn announced their desire to continue negotiations on Wednesday 5 July with the unions around accompanying measures to reach a consensus decision that could contribute to the maintenance of a climate of tranquility in the country

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