14 Oct 2018

 Ministry of Mineral Resources, Green Technology and Energy Security informs the general public that the retail pump prices for petrol, diesel and illuminating paraffin have been adjusted. 

The proposed changes will take effect after midnight from 00:01am on October 15.

According to a press release from the ministry, the retail price adjustment for petrol grades will increase by 65 thebe per litre, all diesel grades will increase by 73 thebe per litre while retail prices for illuminating paraffin will increase by 63 thebe per litre. 

The increase in retail prices is necessitated by the growing under recoveries since September 2017. 

That, the release says was becuase the cost of bringing petroleum products to Botswana has been higher than the regulated price, hence the need to align local pump prices to international prices. 

Further, it states that the volatility of crude oil price is influenced by, amongst others, changes in the supply and demand, production and refining capacities and geopolitics.

Retail prices of petroleum products were last adjusted upward on May 16. 

The Government has also decided to reinstate the 4.5 thebe per litre to the MVA Levy, which it previously deducted.  

Government will continue to closely monitor the prices of petroleum products in both regional and international markets and make price adjustments as necessary. ENDS