How the Russia, Ukraine war will hit your pocket

Going up: Local petrol prices are on average P1.25 below cost-reflective level. Diesel is, on average, P1.49 below par and paraffin about P3.50 PIC: MORERI SEJAKGOMO
Going up: Local petrol prices are on average P1.25 below cost-reflective level. Diesel is, on average, P1.49 below par and paraffin about P3.50 PIC: MORERI SEJAKGOMO

The impact of the conflict in eastern Europe is reverberating across the global economy and for Batswana, the first major threats include a jump in fuel prices and diamond revenue uncertainty. Staff Writer, MBONGENI MGUNI reports

As at the end of February, authorities at the Botswana Energy Regulatory Authority (BERA), estimate the local petrol pump prices were, on average, P1.25 below the actual cost of supplying the fuel. Diesel prices were on average P1.49 below cost while paraffin prices were about P3.50 below par, due largely to the fact that prices of the home cooking and lighting fuel was not increased in the last general adjustment in December.

With crude oil prices escalating around the world due to the conflict in Ukraine, these gaps between actual cost and price are rapidly widening and before long, authorities will have no choice but to pass on the buck to motorists, consumers and the general economy.

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