According to the Ministry, the increase is due to rising international reference prices for refined petroleum products during the current pricing cycle.
New Pump Prices for August 2026:
- Petrol (PMS): D104.18 per litre
- Diesel (AGO): D116.63 per litre
- Kerosene: D99.62 per litre
The Ministry noted that this represents an increase compared to July 2026 prices, though it did not provide the previous month’s figures in the release.
The monthly fuel price review is conducted under the Government’s petroleum pricing framework. The Ministry said it considers several factors including:
- Prevailing international refined petroleum product prices
- Import costs
- Exchange rate
- Statutory taxes, levies, and other pricing components
“The Ministry assures the public that it will continue to closely monitor developments in the international oil market and will undertake future pump price adjustments, where necessary, following the established pricing mechanism,” the statement read.
The announcement comes at a time when transport operators and households are already grappling with the high cost of living. Increases in diesel and petrol prices are expected to impact fares, food prices, and the cost of goods and services in the coming weeks.
