Angola: Finance ministry clarifies adjustment on fuel prices

04 January 2016, Luanda — The Finance Ministry has, in Luanda, explained that the new adjustments made in the prices of fuel, which enter into force on 01 January, 2016, aim at reducing the amount of state subsidies, having into account the effects of the fall of crude-oil price in the international market.

fuel pumpThe press communiqué, which has been sent to ANGOP, states through the Executive Order number 706/15 of 30 December, the Finance Ministry made adjustments to the price of diesel oil, announcing that this product is now fully without state subsidy.

On the same note, it is informed that butane gas price goes up by 100 kwanzas per kilogramme, with the government providing a subsidy of 63.01 per cent.

There was also adjustment in the price of paraffin to 70 kwanzas the litre, with a state subsidy of 9.01 per cent.

The document highlights states that the reference price for the barrel of crude-oil was seta t 39,98 US dollars.

The document also explains that the state-owned oil company Sonangol – which is the supervisor of the activities in this sector – was authorised to make adjustments to several crude-oil by-products, whose legal document enters into force this Friday (01 January).

The note also revealed that with a view to facing the current economic scenario marked by an economic slowdown, the Executive also made adjustments to the tariffs of electricity and water.

To conclude, the Finance Ministry appeals to all economic agents to focus on improving efficiency in their activities and rational use of resources.

  • Angola Presse


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