Government Announces Fuel Price Increase, Citing Rising Global Oil Costs Linked to Middle East Tensions

By Makutu Manneh

The Ministry of Petroleum, Energy, and Mines has announced an upward adjustment in fuel prices, attributing the increase to escalating geopolitical tensions in the Middle East, which have driven up global crude oil costs.

In a press release dated May 1, 2026, the ministry stated that petrol will now retail at D112.00 per litre, gasoil at D120.00 per litre, and jet fuel at D133.72 per litre.

According to the ministry, the price adjustments reflect a surge in international petroleum benchmarks. “The increase is primarily driven by ongoing geopolitical tensions in the Middle East, which have pushed Platts prices higher and disrupted the supply chain and logistics of refined petroleum products globally,” the statement noted.

To mitigate the impact on consumers, the government said it will allocate D185,005,626.00 in fuel subsidies for May. This follows D350,113,201.68 disbursed in April, bringing total subsidy support for the two-month period to over D500 million.

The ministry further indicated that several cost components within the pricing structure have been reduced, including depot throughput charges, importer margins, and the fuel marking levy.

“The Government remains fully aware of the impact that fuel price increases can have on households, businesses, and the wider economy,” the statement read.

However, it cautioned that the current level of subsidies is becoming financially unsustainable, as it places pressure on public finances and constrains government investment in key sectors such as health, education, agriculture, and infrastructure.

The ministry added that The Gambia is not alone in facing such challenges, noting that several countries in the region and across the world are experiencing similar volatility in their petroleum markets.

It assured the public that fuel pricing decisions are made through a transparent review mechanism guided by international market trends and domestic economic conditions.

The statement concluded by reaffirming the government’s commitment to ensuring national energy security while seeking to cushion Gambians from the impact of global market fluctuations.