Jan 9, 2009, 4:18 AM
The Ministry of Finance yesterday announced that the pump price per litre for AGO commonly called diesel has been increased from D33.00 to D35.00 effective today Friday 10th December 2010.
This increase, according to a statement from the Finance Ministry in Banjul, has been necessitated by the fact that the global price for fuel has been on the rise throughout the year.
"Consequently, Government has been subsidizing the price of diesel," the statement said.
The release added:
"It would be recalled that the prices for both petrol and diesel were increased in May 2010 to reflect the rising price of fuel in the world market. However, the increase in the price of diesel was much lower, thereby making the price of diesel much lower than its real world market price."
The price increase, the statement added, is limited to diesel only and the price of petrol remains the same.
The Ministry of Finance said that it will continue to monitor developments in both the international and domestic markets and would review the price situation when the need arises.