The Ministry of Trade and Regional Integration has announced that retail fuel prices will stay the same in February as they were in January. This marks the third successive month of stable rates since the government's latest fuel price adjustment on October 1, 2023.
That October adjustment represented part of ongoing efforts to reduce costly fuel subsidies that have strained government finances. The Ethiopian government had spent over 100 billion birr on fuel subsidies alone for the 2021/22 fiscal year, affecting economic stability.
For the month of October, benzene prices will remain at 77 birr and 65 cents per liter. White diesel will still cost 79 birr and 75 cents per liter. Kerosene is holding steady at 79 birr and 75 cents per liter as well.
Light black diesel and heavy black diesel prices are also unchanged. Light black diesel is 62 birr and 36 cents per liter, while heavy black diesel is 61 birr and 16 cents per liter.
Officials at the Ministry reviewed current market prices and determined that conditions did not warrant any adjustments to retail fuel costs at this time. This means consumers will pay the same at the pump in January as last month.
The stable prices provide certainty for households and businesses as they make budgets and plans for the new year. It also avoids potential inflationary impacts if fuel costs had risen.
The Ministry will continue monitoring international oil markets and could implement price changes if needed in the future. But for now, motorists can expect relief at the filling station in the form of unchanged gasoline, diesel and kerosene rates.