Maseru - The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be decreased effective from Friday, December 7, 2018. The pump prices of both grades of petrol will be decreased by two Maloti (M2.00) per litre, both grades of diesel (diesel 500 and diesel 50) by one Loti and ninety (M1.90) lisente per litre and the wholesale price of illuminating paraffin will be decreased by one Loti and fifty-five (M1.55) lisente per litre.
The new Retail Prices for all the districts of Lesotho shall be as follows:
Petrol 93 M11.95 per litre
Petrol 95 M12.05 per litre
Diesel 500 M13.00 per litre
Diesel 50 M13.30 per litre
Domestic Paraffin(Wholesale) M9.15 per litre
The main reason for the decreases have been the decrease on free-on-board prices for these products, which have resulted in unit slate over-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 and local radio stations.