The Gambia government has rolled out a fuel subsidy worth D316,146,722.52 (about $4.30 million) to ease pump prices for April.
The intervention follows a sharp rise in global fuel prices driven by ongoing geopolitical tensions involving the United States, Israel, and Iran.
In the absence of the subsidy, petrol would have been priced at D101.29 per litre, while diesel would have reached D124.72 per litre.
To cushion consumers, the government applied a subsidy of D3.29 per litre on petrol and D29.72 per litre on diesel, bringing prices down to D98.00 per litre and D95.00 per litre respectively.
In a statement signed by the Permanent Secretary, the government said the measure underscores its commitment to supporting citizens amid increasing economic pressures.
It added that, through the Ministry of Petroleum, Energy and Mines, authorities will continue to engage Oil Marketing Companies and other stakeholders to maintain steady fuel supply and ensure responsible pricing.
The statement further indicated that global market trends will be closely monitored, with additional interventions to be introduced if necessary to protect consumers while safeguarding fuel availability.