Maseru - The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be increased effective from Friday, April 5, 2019. The pump prices of petrol (93) will be increased by one Loti and fifty (M1.50) lisente per litre and the price of petrol (95) will be increased by one Loti and forty-five (M1.45) lisente per litre and the pump price of diesel (500) will be increased by seventy-five (M0.75) lisente per litre, diesel (50) will be increased by eighty (M0.80) lisente per litre while the wholesale price of illuminating paraffin will be increased by thirty-five (M0.35) lisente per litre.
The new Retail Prices for all the districts of Lesotho shall be as follows:
Petrol 93 M12.95 per litre
Diesel 500 M13.70 per litre
Diesel 50 M14.00 per litre
Domestic Paraffin(Wholesale) M9.35 per litre
The main reason for the increases have been the rise in free-on-board prices for these products and the increase of prices of these products in the international markets, which have resulted in unit slate under-recoveries.
The Petroleum Fund wishes to appeal to all Retailers to charge proper prices because it is illegal to charge prices that are different from the gazetted ones. There have been tendencies in the past by some retailers of charging prices that are above those set, this should not happen, and any retailer who will be found in contravention of this, shall be prosecuted accordingly. The public is further made aware that there is a toll free number to which any non-compliance can be reported and this number is 80022004.
Copies of this "Press Release" can be obtained from the Petroleum Fund Secretariat offices at LCCI Building, Orpen Road, Petroleum Fund Website (www.petroleum.org.ls) and local radio stations.