The Ethiopia Ministry of Trade and Regional Integration (MoTRI) announced on Tuesday a decision to increase gasoline prices by 13.3 percent with immediate effect.
In a press statement, ministry said the price hike could see gasoline prices rise from 61.29 birr (1.13 U.S. dollars) to 69.43 birr (1.28 U.S. dollars) per liter.
The MoTRI statement also said the price of one liter of diesel is similarly hiked from 67.30 birr (1.24 U.S. dollars) to 71.08 birr (1.31 U.S. dollars). The price of one liter of kerosene is also hiked to 71.08 birr from 67.30 birr.
The ministry disclosed the latest fuel price hike will stand until June 7,2023.
This is the first time in four months the Ethiopian government has increased petroleum products price.
Ethiopia recorded a general inflation rate of 37.7 percent in March 2023, according to the latest data released by the Ethiopia Statistics Service (ESS).