Botswana has announced the first-ever drop in fuel prices in 2022, said the country’s energy authorities on Saturday.
According to a press release from Botswana Energy Regulatory Authority, pump prices for petrol, diesel and illuminating paraffin will decrease by 1 pula (0.076 U.S. dollars), 0.23 pula and 0.08 pula per litre, respectively.
The authority said the decrease was necessitated by the fall in oil prices over the past two months. Brent Crude averaged $97.74 per barrel in August compared to an average of $105.12 a barrel in July.
Botswana’s energy authority said the fall in fuel prices was influenced mainly by fears of a possible global recession, which could weaken the global demand for oil.
Four straight increases in fuel prices in the Southern African country since December 2021 have primarily contributed to rising inflation, which reached a 13-year high of 14.30 percent in July.
Tanzania’s Energy and Water Utilities Regulatory Authority (Ewura) has also recently cut fuel prices in response to a slowdown in global oil prices.
In its newly published statement, Ewura says a litre of petrol will now be sold at a price that is cheaper by TSh441, while diesel will fetch TSh197 less than what it used to cost during the preceding month.
The new price for a litre of petrol in Dar es Salaam is TSh2,969, while diesel will fetch TSh3,125.