As part of the developments in the global market prices of Petroleum Products, the Government of the Gambia through the Ministry of Finance and Economic Affairs has reviewed these developments and their potential impact on the domestic economy. The outcome of the review indicates that after the decline of the global oil prices to under US$30 as of January 2016, the Ministry considers that it necessary to reduce domestic pump prices in order to transfer the gains of falling global oil prices to consumers and citizens.
Reduction of fuel prices have taken effect since Monday 29 February, as fuel stations across the country have made some decreases in their pump prices on petrol and diesel.Prices for petrol, which was recently reduced to D53.77, now stands at D50, and pump price for diesel is now D45.
This has come following a recent announcement from the Ministry of Finance and Economic Affairs that the pump prices of fuel were to be reduced with effect from 1st February 2016. The Ministry will continue to monitor developments in the global oil market and make appropriate adjustments as and when necessary.