Maseru - The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be decreased with effect from Friday, January 11, 2019. The pump prices of petrol (93) will be decreased by one Loti and thirty (M1.30) lisente per litre, petrol (95) will be decreased by one Loti and thirty-five (M1.35) lisente per litre, both grades of diesel (diesel 500 and diesel 50) by one Loti and fifteen (M1.15) lisente per litre and the wholesale price of illuminating paraffin will be decreased by eighty-five(85) lisente per litre.
The new Retail Prices for all the districts of Lesotho shall be as follows:
Petrol 93 M 10.65 per litre
Petrol 95 M 10.75 per litre
Diesel 500 M 11.85 per litre
Diesel 50 M 12.15 per litre
Domestic Paraffin (Wholesale) M 8.30 per litre
The main reason for the decreases have been decrease on free-on-board prices for these products, which have resulted in unit 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 above 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 office at LCCI Building, Orpen Road and local radio stations.