Ethiopia Announces 10% Increase on Jet Fuel Prices

Ethiopia on Saturday evening announced an over 10 per cent increase on jet fuel in response to the dramatic increase in oil prices in the world market this week.

According to a statement from the Ethiopian ministry of Trade and Industry, the new increase on jet fuel will be effective as from Sunday.

According to the new tariff, one liter of jet fuel will cost $1.60, an increase of more than 10 per cent over the previous price.

Ethiopian Airlines, which has recently been named as the best African airline by the International Civil Aviation Organization, is expected to make price adjustment both in its domestic and international flights.

According to available information from the Ethiopian ministry of Trade and Industry, gas oil and jet fuel jointly accounted for 81 percent of the overall volume of petroleum products imported into the country last year.

Ethiopia is annually spending over $200 million to import fuel.

Source African Press Agency

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