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Togolese consumers worry over petrol price increase

petorleum products being sold on the black market in Lomepetorleum products being sold on the black market in Lome (Photo: Wikipedia)
June 6, 2011

The pump prices of unleaded gasoline, diesel and kerosene have been increased by 5%.

WADR’s Lome Correspondent Ida Badio reports that motorists are already grumbling over the price rise, which may likely trigger an increase in transport fares as well as prices of basic consumer goods.

Prices at filling stations changed at the weekend and now residents will have to pay 27 CFA Francs more to buy a liter of unleaded gasoline. The new price is 567 CFA up from 540 CFA from.

A liter of gas oil has gone up to 599 CFA Francs, experiencing a 29 Francs increment. The paraffin sold previously at 445 FCFA has also been increased to 467 CFA Francs.

But users of cooking gas are relieved as the 12,5Kg cooking gas bottle remains the same, 3675 CFA Francs.

The new increase in gasoline and fuel oil price is a decision of the Togolese government, which considers the cost of the subsidy on the petroleum products too high for the national budget to continue underwrite.

According to Togo’s Trade Minister Mr. Kokou Gozan,  the subsidy for the month of May 2011 would have cost about 5 billion CFA Francs.

But the Togolese Consumers Association (ATC) has reacted to this decision saying, it is worried that an increment in the price of basic consumer goods and the informal sector transport fares would seriously hurt the ordinary people.

Taxi drivers and motorcycles riders known in Togo as " zémidjan" are already complaining about the hike in the prices of petroleum products, although they are exempt from the road transporters income tax (IRTR).

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