An adjustment was made to the retail price of petroleum products. The Ministry of Trade and Regional Co-operation announced a new price adjustment in the retail price of petroleum products in December.
The ministry said in a statement that the stabilization fund had suffered more than ever due to rising global oil prices.
He also said that the new retail price has been set due to the fact that the retail price of domestic products has increased by 100 percent from neighboring countries and the product is prone to high smuggling.
As a result, it was decided to increase the price of petrol from 31 birr to 74 cents per liter, increasing the price from last month.
It also sells white fuel for 28 birr and 94 cents, white gas for 28 birr and 94 cents, light black diesel for 23 birr and 73 cents, heavy black oil for 23 birr and 29 cents and jet fuel for 58 birr and 77 cents.
Tariff increase for public transport service providers
Addis Ababa City Administration Transport Bureau announced that tariff rates will be increased for public transport service providers.
It is worth mentioning that in December, the retail price of petroleum products was adjusted according to the rising prices of international petroleum products.
Following this, the Addis Ababa City Administration Transport Bureau is finalizing the study to improve tariffs on public transport services.
Therefore, it is said that the service will be provided at the previous tariff rate until the completion of the tariff increase.
The bureau also urged drivers who are providing public transport services in the city to fulfill their responsibilities by providing the service without any increase in tariffs.