Yaoundé: Dion Ngute raises fuel prices ⁰

The Cameroonian government on Friday hiked fuel prices, which will go into effect from Saturday.

According to a statement by Seraphin Magloire Fouda, Secretary General at the Prime Minister’s Office, the price of a liter of Super has been increased from 730 XAF (approximately 1.21 U.S. dollars) per liter to 840 XAF (approximately 1.39 U.S. dollars) and gasoline increases from 720 XAF (approximately 1.19 U.S. dollars) per liter to 828 XAF (approximately 1.37 U.S. dollars).

Fouda said in a statement Friday night that the price increase was “due to the need to absorb the growing budgetary constraints that the state is facing and to avoid tensions in the supply of the nation’s market with petroleum products.”

As part of the measures to accompany the price hikes, basic salary of civil servants will be increased by 5 percent and “certain” taxes and customs duties in the road transport sector will be reduced, according to officials.

“The government is counting on the understanding, sense of responsibility and civic-mindedness of consumers for the implementation of these measures,” the statement said.

Officials said the latest hikes at the retail level were inevitable to reduce the subsidy burden on state-run distribution companies.

The central African nation increased fuel prices by over 10 percent in January last year.

Source: Xinhuanet