Angola’s petroleum products regulator has raised diesel prices by approximately 48% effective Tuesday as part of the government’s efforts to reduce costly subsidies that have strained public finances. The regulator announced in a statement dated April 22 that the price of diesel had increased to 200 kwanzas per liter, the equivalent of R4.60 per liter, from 135 kwanzas previously. The prices of other fuels, such as petrol and liquefied petroleum gas, have remained unchanged. Finance Minister Vera Daves de Sousa stated last month that Angola was dedicated to eliminating all fuel subsidies in a manner that would not incite public backlash. A near-doubling of fuel prices in June of last year sparked deadly protests, with thousands taking to the streets. However, Luanda, the capital city, remained calm on Tuesday. Angola joins a growing number of major African crude producers who have been affected by rising debt costs and exorbitant gasoline prices. In an effort to reduce fuel subsidies, Nigeria, Cameroon, and the Democratic Republic of Congo have all faced significant public outrage. Widespread unrest erupted in mid-2023 after a rise in petrol prices, with motorcycle taxi drivers in Luanda playing a key role in the protests. Police responded by arresting dozens of people and using tear gas to disperse crowds.
Angola Hikes Diesel Prices by 48% as It Phases Out Fuel Subsidies
