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    GAINAKO
    October 2022 Prices (c) Yusef Taylor

    Fuel Prices Down by D2 for October, Only Reduction in 2022 So Far

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    By Yusef Taylor on October 5, 2022 Business Economy, Data Analysis, News, Press Release

    The Ministry of Finance and Economic Affairs (MoFEA) has published a press release announcing the reduction of fuel prices by D2 for both Petrol and Diesel. This is the first time that fuel prices have gone down in the year 2022, so far.

    Previously the highest fuel increase was in July when fuel prices increased by D9.2 per litre for Petrol and D9 per litre for Diesel. On the other hand, the lowest price increase was in August when Petrol increased by D1.1 per litre and Diesel increased by D1.2 per litre.

    According to data compiled by Gainako from Atlas and the Gambia Government, fuel prices have increased for every single month in 2022 so far apart from March, June and September when prices stayed the same in the preceding months.

    Below is the press release with a chart compiled by Gainako on Fuel prices for the entire year.

    Fuel Prices from Jan to Oct 2022 (c) Yusef Taylor for Gainako News

    The Ministry of Petroleum and Energy through its stakeholders published the October 2022 Fuel Price Structure to be effective from the 1st of October 2022. After months of price hikes caused by several factors including global supply chain disruptions and geopolitics of the world, the global oil prices are showing
    a marginal decline in recent days.

    Government, in consideration of the decline in global oil prices, has decided to reduce the pump prices by D2 per litre. This will help ease the burden on the general public. The recently announced Price Structure will now be as follows:

    – PMS: D 77.89 per litre (Petrol)
    – AGO: D 73.00 per litre (Diesel)

    While government continues to subsidies the pump price for diesel, we hope that global oil prices may soon stabilize. Thus, the government will continue to monitor oil prices and any further reduction will be passed on to consumers in the country.

    Government takes this opportunity to thank our stakeholders and private sector players for the continued support and understanding as we all journey through these trying time.

    Below is a link to Gainako’s September 2022 Publication on Fuel Prices.

    Finance Minister and Transport Union President Speak on September 2022 Fuel Shortage

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    Yusef Taylor
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    Yusef Taylor, commonly known as Flex Dan is an editor and practising journalist based in the Gambia with a keen interest in human rights, the economy and good governance among many others. He continues to break news on the economy, human rights violations and is highly engaged in security sector reforms, constitutional reform and the transition of the Gambia from dictatorship to a democracy, the NewGambia. Yusef has been working with Gainako as a media practitioner from 2015 to date. He has a degree in Civil Engineering with 5 years of Design Consultancy experience.

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