The National Petroleum Authority has announced that prices of petroleum products at the pumps would remain stable over the pricing window: 16th December to 31st December 2017. “This is as a result of a marginal drop of fuel prices on the world market.
The exchange rate has also remained relatively stable,” NPA said in a statement on Saturday. Additionally, in line with a directive from the Ministry of Energy, the statement said the Authority has activated the price stabilization mechanism to avoid any upward adjustment in prices.
The Authority has therefore adjusted the price stabilization and recovery levy (PSRL) on diesel and LPG. This adjustment will not result in any price increment, the statement assured.
“The Authority assures the general public that it will be monitoring the prices to ensure consumers benefit from government’s decision to use the PSRL to manage variations at the pumps.”