Consumers of petroleum products have been saved from paying extra cost on fuel as government in the most recent price review has absorbed an increase in the product.
The National Petroleum Authority (NPA) in its most recent price review for the first half of this month [effective 1st September 2013], maintained prices of all petroleum products except industrial kerosene which increased marginally by 1.6%.
Petrol is being subsidised at 3% and Diesel less than 1%. Domestic kerosene continues to be the most highly subsidised, with government taking up to 42% of the cost. This was followed by Premix which is subsidised up to 19%.
This is the second time in the row that government is taking up the increased cost since the last increment at the beginning of August.
These subsidies, however worsens government’s indebtedness to the Bulk Oil Distribution Companies, an impasse yet unresolved.
Source: Citifmonline.com
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