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.