Gabon prepares fuel price adjustment
By the AFREEQUE newsroom, based on Gabonreview
Gabon is considering adjusting public support for fuel prices to secure supplies, according to Thibault Gaël Idoumi, director general of downstream oil and gas. Sogara covers about 40% of national needs and public subsidy would reach CFA francs 35 billion in November, he told Gabon 1ère.
The Gabonese government is considering reviewing the public support mechanism for petroleum product prices in the coming months to guarantee supplies, Thibault Gaël Idoumi, director general of downstream oil and gas, announced on 11 November on Gabon 1ère. He said available stocks did not justify concerns circulating on social media.
The Gabonese Refining Company (Sogara) covers about 40% of national needs, with the remainder imported, according to Thibault Gaël Idoumi. This dependence will continue during the modernisation of refining facilities, while the authorities are working to strengthen storage capacity and secure imports.
Public support for fuel would have risen from CFA francs 30 billion in October to 35 billion in November, while the planned annual allocation is CFA francs 55 billion, the official said. The state would cover nearly CFA francs 400 per litre of diesel, whose actual price is estimated at CFA francs 1,300.
