Ethiopia raises domestic oil prices

Aug 28, 2006 (ADDIS ABABA) – Ethiopia has increased the price of domestic oil and oil products in line with rising prices on the international market, the Ministry of Trade and Industry announced on Monday.

The price for regular petrol rises from a current 6.58 Ethiopian birr ($0.753) to 8.67 birr per litre and that of diesel from 4.78 birr to 5.44.

Kerosene, used commonly for cooking, rose to 4.12 birr from a current 3.45.

Ethiopia imported 1.3 million tonnes of petroleum products worth 4 billion birr in 2005 and is expected to import 1.5 million tonnes of petroleum products this year, according to the Ethiopian Petroleum Enterprise.

(Reuters)