By Makutu Manneh
The Ministry of Petroleum, Energy and Mines has announced a reduction in the pump price of diesel (gasoil) from D120 to D115 per liter, supported by a government subsidy of D150 million.
In a press release issued on Monday, June 1, the ministry stated that the intervention underscores the government’s ongoing efforts to mitigate the impact of rising global petroleum prices on the domestic economy.
Despite the adjustment in diesel prices, the retail price of petrol (PMS) remains unchanged at D112.00 per liter, consistent with the previous month’s pricing.
According to the ministry, the reduction in diesel prices is intended to ease the financial burden on households, transport operators, businesses, and other sectors that are heavily dependent on fuel consumption.
“The reduction in Gasoil prices reflects the Government’s commitment to easing the financial burden on households, transport operators, businesses, and other productive sectors of the economy that rely heavily on fuel consumption,” the statement noted.
The ministry further highlighted that global fuel markets continue to experience volatility, driven by geopolitical developments and shifting international pricing trends. In response, the Government of The Gambia remains proactive in implementing targeted measures to maintain affordability and safeguard public welfare.
To facilitate this intervention, the government has committed over D150 million in subsidy support to absorb a portion of the cost increases associated with prevailing international market conditions and supply chain pressures.
The ministry reassured the public that fuel pricing reviews are conducted through a transparent and evidence-based process, taking into account global market dynamics as well as national economic priorities.
It concluded by reaffirming its commitment to collaborating with stakeholders to ensure a stable, reliable, and sustainable petroleum sector for the benefit of all Gambians.
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