Ver Angola


Gasoline price in the country doubles to 300 kwanzas with gradual withdrawal of subsidies

The Government announced this Thursday the gradual withdrawal of gasoline subsidies, which will increase from the current 160 kwanzas to 300 kwanzas/litre, maintaining the subsidy to the agricultural sector and fishing.


According to the Minister of State for Economic Coordination, Manuel Nunes Júnior, the tariffs for taxi drivers and motorcycle taxi drivers will be subsidized, with them continuing to pay 160 kwanzas per liter of gasoline, with the State covering the difference.

The measure takes effect at 01h00 this Friday.

Manuel Nunes Júnior said that subsidizing oil derivatives has created major problems not only for Sonangol, the state-owned oil company, but also for public finances.

"Sonangol buys oil derivatives at the international market price and sells it at the pumps at the subsidized price, and has not received, due to treasury difficulties on the part of the national treasury, the value of this subsidy", he argued.

In 2022, the subsidy for fuel prices amounted to around 1.98 billion kwanzas, corresponding to 3.8 billion dollars at the current exchange rate.

"It is a necessary measure", stressed Manuel Nunes Júnior, stressing that its effects will be seen gradually.


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