Fuel prices may rise in near future – aimnews.org

Maputo, 09 Apr (AIM) – The Ministry of Mineral Resources and Energy of Mozambique warned that fuel prices in the domestic market could rise in the near future, given the sharp increase in the costs of importing refined fuels, largely due to the US/Israeli aggression against Iran.

According to the National Director of Hydrocarbons and Fuels, Felisbela Nhate, in statements to journalists, in the presence of fuel importers and distributors, the country is facing a “shock” in the prices of petroleum products, with a direct impact on the import bill and, consequently, on the national economy.

He explained that the total cost of fuel imports in April was approximately 230 million US dollars, more than 80 million dollars more than in March.

“We are registering a very significant increase in the fuel import bill,” said Nhate.

The import price of gasoline rose from around US$700 per ton between January and February to US$1,037 in April. In the case of diesel, the price rise was even more pronounced, jumping from 730 to 1,480 dollars per ton in the same period.

“Diesel is the fuel used in logistics and transport and has a multiplier effect on all other sectors”, he stated. “This increase will create strong pressure on domestic prices.”

Given this scenario, the Government admits the possibility of increasing national fuel prices.

“We are already carrying out an exercise that will naturally culminate in the need to make some adjustments, but always accompanied by measures to mitigate the impacts that the Government will have to apply,” said Nhate.

She explained that Mozambique is far from isolated, as several other countries in Southern Africa have already increased fuel prices, including Malawi, Zimbabwe, Zambia, Tanzania and South Africa.

Despite the adverse context, the Government assured that it is preparing mitigation measures to reduce the impact on consumers and the economy.

Nhate appealed to the population for calm, as “any adjustment still requires analysis by the government and the regulator, with a view to protecting the end consumer”.

“There is no need to panic, we are simply raising public awareness of what is happening. Mozambique, as an importer, is inevitably exposed to fluctuations in the international market,” he stated.
(AIM)
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