Chad: Government Increases Local Fuel Prices
|
|
|
|
Friday, 21 October 2011 |
Chadian authorities have moved to raise local fuel prices substantially in an effort to place its fledgling refining industry on a stable footing. The price of petrol has risen from 330 CFA francs to 490 francs, with diesel rising from 374 CFA to 495 CFA, according to a Government statement.
While no official reason was given for the price rise, a government source told news agency Reuters that previous “were political and could not be sustained given the economic reality”. The source said that a refinery, built by China’s CNPC and opened in June, was losing money as a result of local price controls. “The refinery had lost tens of millions of dollars over the course of three months of operations. That could not continue,” the unnamed source added.
PetrolWorld 21102011
|
