Gov’t invests 12.8 bln Birr to subsidize fuel

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The government announced that it has invested 12.8 billion Birr in April 2022 to subsidize fuel.

The government spent 24 billion Birr on subsidy of fuel in the past two years.

Meanwhile, Ministry of Trade and Regional Integration (MoTRI) revealed a decision to hike fuel prices by 16 percent starting from Sunday.

MoTRI said in a statement released Saturday that the hike includes a liter of Benzene, which has increased from 31.74 Birr to 36.87 Birr.

A liter of diesel was similarly hiked from 28.98 Birr to 35.43 Ethiopian Birr, MoTRI’s statement said.

Similarly, Kerosene price has soared from 28.94 Birr to 35.43 Birr in a liter.

The price adjustment has come after four months of price hike.

Following the new fuel prices adjustments, some minibus taxi service providers started to double the tariff rate, an action made without any price adjustment announcements from Addis Abeba Transport, according complaints Origins Media received from taxi commuters.

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