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Eritrea Increases Petrol Fuel Prices By 28 Per Cent

Posted on: Thursday, 7 July 2005, 12:00 CDT

Text of report by UN regional information network IRIN on 7 July

Asmara, 6 July: Eritrean authorities have hiked fuel prices by 28 per cent, saying the increase was necessitated by rising oil prices in the international market.

The prices went up on Sunday [3 July] from 25 nakfa (1.67 US dollar) per litre of petrol to 32 nakfa (2.13 US dollar), according to an official statement published in the Tigrinya language press.

"It's a global phenomenon and of course we will be affected by rising world prices," Ali Abdu, Eritrea's minister of information, said.

Petrol rationing, introduced in September, 2004, was, meanwhile, reported to have come to an end. Diesel rationing would however remain.

The latest petrol price rises were the third significant hikes in 10 months, following increases of 40 per cent and 25 per cent in October and April, respectively.

The UN World Food Programme in its emergency report of 1 July said inflation and import restrictions were making living conditions worse.

"Living conditions of the people are getting worse due to inflation and import restrictions," said the report. "Prices for basic food commodities have increased sharply and some commodities, such as sugar and soft drinks, have disappeared from the shelves or are only available 'under the counter'."

Source: BBC Monitoring Newsfile

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