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Botswana gets first fuel price fall in 2022
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IANS | 12 Sep, 2022
Botswana witnessed its first-ever drop in fuel prices in 2022, said the country's energy authorities.
According
to a press release from Botswana Energy Regulatory Authority, pump
prices for petrol, diesel and illuminating paraffin will decrease by 1
pula ($0.076), 0.23 pula and 0.08 pula per liter, respectively, Xinhua
news agency reported.
The authority said the decrease was
necessitated by the fall in oil prices over the past two months. Brent
Crude averaged $97.74 per barrel in August compared to an average of
$105.12 a barrel in July.
The energy authority said the fall in
fuel prices was influenced mainly by fears of a possible global
recession, which could weaken the global demand for oil.
Four
straight increases in fuel prices in the Southern African country since
December 2021 have primarily contributed to rising inflation, which
reached a 13-year high of 14.30 per cent in July.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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