Ministry of Finance and Economic Affairs has issued a press release on the
domestic pump prices of petrol and (AGO) diesel.
The full text of the release states: ‘As part of the developments in the global market prices of petroleum products, the Government of The Gambia through the Ministry of Finance and Economic Affairs has reviewed these developments and their potential impact on the domestic economy.
The outcome of the review indicates that global oil prices continue to edge up and currently stands above US$50/barrel as at January 2017.
The Ministry considers it necessary to increase the domestic pump price of AGO (or diesel) in order to avoid sharp increases in the near future as prices continue to trend upwards.
In light of this, the Ministry is hereby informing the general public that domestic pump prices of PMS (petrol), AGO (diesel) and kerosene will sell at D50.00, D47.77 and D44.00 respectively with effect from Wednesday 1st February 2017.
Oil marketing companies are hereby advised to adhere to the above-mentioned prices.
The Ministry will continue to monitor developments in the global oil market and make appropriate adjustments as and when necessary.