The Gambian government has increased fuel pump prices for August, attributing the adjustment to rising international prices of refined petroleum products.
The Ministry of Petroleum, Energy and Mines announced that the revised prices took effect on August 1 following the government’s monthly fuel price review.
Under the new pricing structure, petrol (PMS) now sells at 104.18 dalasis ($1.42) per litre, while diesel (AGO) is priced at 116.63 dalasis ($1.59) per litre. Kerosene has also increased to 99.62 dalasis ($1.36) per litre.
The ministry explained that the upward adjustment from July was driven mainly by higher international benchmark prices for refined petroleum products during the latest review period.
Gambia’s monthly fuel pricing mechanism considers several factors, including global refined petroleum prices, import costs, exchange rates, statutory taxes and levies, as well as other components of the petroleum pricing structure.
The ministry said these factors are reviewed each month to determine appropriate domestic pump prices and added that it would continue monitoring developments in international oil markets and make adjustments when necessary.
The latest increase is expected to raise operating costs for motorists, transport operators and businesses, with potential implications for transport fares and the prices of goods and services.
The government said it remains committed to implementing the fuel pricing framework transparently while ensuring domestic prices reflect prevailing international market conditions.