High hopes for another fuel price slash :: Mmegi Online

Department of Energy Affairs officials will meet next week to review fuel prices amidst expectations of a cut. Oil prices in the international market have slumped by over 50 percent in the past six months, due to over supply from the Middle East producers, raising hopes of retail price cuts.

Neighbouring South Africa have effected a cumulative 30 percent price cut since the slump started, but in Botswana consumers have only enjoyed a six percent reduction effected in December last year.

Speaking to BusinessWeek, Department of Energy Affairs director, Kenneth Kerekang said they would make a decision on any adjustments when they meet next week. “We have only reduced prices in December but currently we are working on our price reviews. By next week we will inform the public on the changes that we are going to make,” he said.

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