Fuel prices drop again

Staff Writer | Tuesday February 2, 2016 15:37

According to the ministry, for Gaborone and surrounding areas, retail price for petrol grades, which include unleaded petrol 93 and 95, has been decreased by 15 thebe per litre to P7.49 and P7.61 respectively. 

Diesel 50ppm has gone down by 45 thebe per litre to cost P7.19, while retail pump price for illuminating paraffin has been decreased by 55 thebe per litre to P6.13.

 This decrease has been attributed to the general decline in the international crude oil prices and refined product prices.

“Average crude oil prices have been falling mainly due to oversupply and weak global oil demand.

There has been persistent oversupply with strong signs of slowing pace of economic growth in the consumer countries such as China,” read part of the press release.

In addition, the press release stated that government would continue to closely monitor the development of petroleum product prices in both the regional and international markets.

Late last year the ministry decreased retail pump prices for petrol, diesel and illuminating paraffin due to a general decline in international crude oil prices and refined product prices.

Retail prices for unleaded petrol 93 were decreased by 17 thebe per litre, which was a thebe higher than unleaded petrol 95.  Retail prices for diesel 500ppm dropped by 14 thebe per litre while 50ppm went down by 16 thebe per litre and paraffin plummeted by 13 thebe per litre.