Fuel Prices Rise for Second Straight Month as Global Market Pressures Persist

By Makutu Manneh

The Gambia has raised fuel prices for the second consecutive month, with the government attributing the latest increase to rising global oil prices and continued uncertainty in international energy markets.

In a statement issued on Sept. 1, the Ministry of Petroleum, Energy and Mines said the government had approved new retail pump prices with immediate effect. Petrol will now sell for D109.80 per litre, diesel for D120 per litre and kerosene for D112.64 per litre.

The increases follow another round of price adjustments in August. Petrol rose to D104.18 per litre in August from D101.10 in July, while diesel increased to D116.63 from D113.52. Kerosene climbed to D99.62 from D95.54 per litre.

Compared with July, the latest prices represent an increase of D8.70 per litre for petrol, D6.48 for diesel and D17.10 for kerosene over the two-month period. Kerosene has recorded the sharpest increase, rising nearly 18 percent since July. Petrol has increased by about 8.6 percent over the same period, while diesel has risen by roughly 5.7 percent.

The ministry attributed the September adjustment to continued increases in international crude oil and refined petroleum product prices. It said conflict and instability in the Middle East had added uncertainty to global oil markets and heightened concerns about possible disruptions to production, refining and transportation.

“As The Gambia relies heavily on imported petroleum products, developments in international markets have a direct impact on the cost of fuel in the country,” the ministry said.

The government acknowledged that rising fuel prices would place additional pressure on households, businesses and transport operators. But it said the adjustment reflected prevailing international market conditions and was necessary to maintain a steady supply of petroleum products.

The ministry said the government would continue to monitor developments in international oil markets and take measures when necessary under the country’s established petroleum pricing framework.

“The Ministry appreciates the understanding and cooperation of the public and all stakeholders as the Government continues to respond to challenges in the global energy market,” the statement said.