Ethiopia reduces fuel price by over 5 %
APA
November 9, 2008
Addis Ababa (Ethiopia) Ethiopia has reduced fuel prices by over five percent due to the decline of oil price in the international market, APA learnt here.
Ethiopian council of ministers said on Sunday evening that the reduction of the fuel price will be effective as of Monday.
Accordingly, the government reduced the price of ethanol-blended benzene from 10 birr and 15 cents to Nine birr and 48 cents to below one US dollar - the first in Ethiopia’s history.
The government also reduce the price of Kerosene from 8 birr and 60 cents to seven birr, a 15 per cent reduction.
Ethiopia annually imports about one billion dollars worth of fuel mostly from the Middle East countries.