Wednesday, 2 July 2014

Cameroon: Government raises fuel prices at filling stations

The government has partially bowed to pressure from the International Monetary Fund (IMF) which had called on it to scrap fuel subsidies at the filling stations. As of Tuesday 1 July, pump prices have increased. The news was made public through a statement signed by Louis Paul Motaze, Secretary-General at the Prime Minister’s Office, who has revealed that:
A litre of Super or Premium petrol has been increased from CFA560 to CFA650 (US$1.37)
A litre of Gas has risen from CFA520 to CFA600 (US$1.25)
A 12.5 kg bottle of cooking gas will now increase from CFA6,000 to CFA6,500 (US$13.56).
Motaze said that the fuel price increases will help Cameroon to save money for other state projects and infrastructure, adding that the government spent over CFA1,200 billion on fuel subsidies during the first six years when it implemented subsidies.
The government faced a head-on confrontation from angry protesters in February 2008 after it last raised fuel prices. At least 40 people were killed in the clash between street demonstrators and the security forces.

For more news and expert analysis about Cameroon, please see Cameroon Politics & Security.

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