The Government of The Gambia has reduced the pump price of diesel by D5 per litre after providing more than D150 million in subsidies aimed at cushioning consumers against rising global fuel prices.
In a statement issued by the Ministry of Petroleum, Energy and Mines, authorities announced that the retail price of gasoil (diesel) has been reduced from D120 to D115 per litre, while the price of petrol remains unchanged at D112 per litre.
According to the ministry, the subsidy intervention forms part of broader efforts to ease the financial burden on households, transport operators, businesses and other fuel-dependent sectors of the economy.
The government disclosed that over D150 million in subsidy support has been committed to absorb part of the increased costs associated with global petroleum prices and supply chain pressures.
“The reduction in gasoil prices reflects the Government’s commitment to easing the financial burden on households, transport operators, businesses and other productive sectors of the economy,” the ministry stated.
Authorities noted that global fuel markets continue to experience volatility due to geopolitical tensions and fluctuations in international crude oil prices.
The ministry explained that the subsidy programme is intended to maintain affordability and shield consumers from the effects of external economic shocks.
Government further assured the public that fuel pricing reviews are conducted through a transparent process that considers both international market conditions and domestic economic priorities.
The ministry added that it remains committed to ensuring a stable, reliable and sustainable petroleum sector in collaboration with industry stakeholders.
The diesel price reduction is expected to provide relief to commercial drivers, businesses and consumers facing increasing economic and energy-related pressures.