Gambia Introduces $4.3m Fuel Subsidy to Ease Rising Pump Prices

The Government of The Gambia has announced a subsidy of D316,146,722.52 (approximately $4.30million) for fuel, thereby reducing pump prices for the month of April.

Fuel prices have risen sharply across many economies due to the ongoing conflict involving the United States, Israel, and Iran.

Without the subsidy, a litre of petrol would have sold at D101.29, while diesel would have cost D124.72 per litre.

However, the government has provided a subsidy of D3.29 per litre on petrol and D29.72 per litre on diesel.

This intervention has reduced the price of petrol to D98.00 per litre and diesel to D95.00 per litre.

In a statement signed by the Permanent Secretary, it was indicated that the subsidy reflects the government’s commitment to supporting its citizens during this challenging time.

The statement added that the government, through the Ministry of Petroleum, Energy and Mines, will continue to work closely with Oil Marketing Companies (OMCs) and other stakeholders to ensure a steady supply of fuel and maintain responsible pricing.

It further noted that global developments will be closely monitored, and additional measures will be taken as necessary to protect consumers while ensuring fuel availability