Mining & Energy
Spectrum starts multi-client 2D seismic survey offshore Mozambique
The Mozambican Ministry of Mineral Resources and Energy has announced an increase in the price of petrol, but a decrease in the price of diesel, taking effect as from Wednesday.
A litre of petrol now costs 57.89 meticais (94.9 US cents) instead of 53.57 meticais, a rise of eight per cent. But the price of diesel falls by 2.5 per cent, from 51.79 to 50.48 meticais a litre. The price of kerosene rises by 4.7 per cent, from 37.88 to 39.65 meticais a litre.
The most startling change is in the price of domestic cooking gas (butane, or LPG), which falls by 42.3 per cent, from 70.32 to 40.57 meticais per kilo. This will come as a considerable relief to households who depend on bottled gas for cooking. The price of a standard bottle of gas, weighing 11 kilos, should fall from 773 to 446 meticais.
Following the abolition of generalized fuel subsidies last year, the government now reviews fuel prices every month, increasing or reducing them whenever the import price, expressed in meticais, has moved in either direction by more than three per cent.
The determinants for the price alterations are thus the world market price of refined fuels, and the exchange rate of the metical against the US dollar and (in the case of gas) against the South African rand.Source: AIM / TVM
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