Fuel Price Adjustments – Thursday, 07, May 2020

Maseru – The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be adjusted effective from Friday, May 08, 2020. The pump prices of  both grades of petrol (petrol 93 and petrol 95) will be decreased by one Loti and ten(M1.10) lisente per litre, the pump price of diesel 50 will be decreased by one Loti and eighty (M1.80) lisente per litre, the wholesale price of the illuminating paraffin will also be decreased by one Loti and ninety five (M1.95) lisente per litre. 

The new Retail Prices for all the districts of Lesotho shall be as follows:

Petrol 93                                   M 8.20 per litre

Petrol 95                                   M 8.30 per litre

Diesel 50                                   M 9.10 per litre

Domestic Paraffin (Wholesale)   M   3.90 per litre

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. This appeal comes from the past observations that some retailers  have continued to charge prices that are above those set, and any retailer who will be found to be charging prices in contravention of these newly set prices, 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, Old Europa, Maseru and local radio stations.

LITHEKO TSE NCHA TSA MAFURA – THURSDAY, APRIL 09 2020

Phatlalatso e Potlakileng

Maseru –  Ofisi ea Petroleum Fund e tsebisa sechaba ka ho fetoha hoa litheko tsa mafura tse tlang ho kena ts’ebetsong ho tloha ka Labohlano la la leshome ‘Mesa selemong sena (10 ‘Mesa 2020). Theko ea Peterole 93 e tla theoha ka Maloti a mararo (M3.00) lithara ka ‘ngoe. Peterole 95 e tla theoha ka Maloti a mararo le metso e mehlano (M3.05) lithara ka ‘ngoe, ha theko ea diesel 50 e tla theoha ka Maloti a mabeli le metso e mehlano (M2.05) lithara ka ‘ngoe, theko ea Parafini holeseiling eona e tla theoha ka Maloti a mabeli, mashome a mane le metso e mehlano (M2.45) lithara ka ‘ngoe. 

Litheko tsa mafura literekeng tsohle tsa Lesotho li tla ema tjena:

Peterole 93                                                            M9.30 lithara ka ‘ngoe

Peterole 95                                                            M9.40 lithara ka ‘ngoe

Diesele 50                                                              M10.90 lithara ka ‘ngoe

Parafine ea Malapeng (Holeseiling)                M8.85 lithara ka ‘ngoe

 

Ofisi e eletsa barekisi bohle ba mafura ho fetisetsa litheko tse nepahetseng ho bareki hobane ke tlolo ea molao ho rekisa ka litheko tse fetang tsena. Ho bile le ba nkang monyetla oa liphetoho tsa mofuta ona nakong tsa ho feta, ebe ba rekisa mafura ka litheko tse fetang tse phatlalalitsoeng. Barekisi ba tsebe hore ba tla iphumana ba nkeloa likhato tsa molao ha ba rekisa ka litheko tse fetang tsena tse phatlalalitsoeng. Sechaba se boetse se tsebisoa ka nomoro ea mahala eo se ka e sebelisang ho re tsebisa ka libaka tseo li sa nepahalang. Nomoro eo ke 80022004.

Likopi tsa phatlalatso ena li ka fumaneha liofising tsa Petroleum Fund, LCCI Building, Orpen Road, Old Europa, Maseru, Petroleum Fund website (www.petroleum.org.ls) le liea-le-moeeng tsohle ka har’a naha.

PETROLEUM FUND STRATEGIC PLAN 2020 – 2025 LAUNCH MASERU AVANI, 19th MARCH, 2020

The Petroleum Fund today announced its new Strategic Plan, which will guide its work over the next five years. The new plan presents itself as an ambitious commitment and radical attempt by the Fund to make impactful interventions within the petroleum sector, amidst a myriad of supply constraints in the oil market. It is based on the theme: “Expanding Activities, Improving Engagements, and Building Capacity”. It reflects the Fund’s thoughts around practical approaches that can be used to ensure that it effectively carries out its mandate of ensuring that there is security of supply of petroleum products in the country.


The plan also reflects the views of various stakeholders within the petroleum sector, and builds on the outgoing plan achievements, while addressing its shortcomings and applying lessons learnt from it. The Fund will ensure that it stays on schedule, responds to the national needs, and changes course when necessary. Accordingly, this plan will be subjected to constant reviews.


Below is the summary of the Strategic Plan:

Vision
A progressive, adequately resourced and sustainable petroleum industry that contributes significantly to the socio-economic development of the country.


Mission
Spearhead the supply of adequate and reliable petroleum products at competitive and reasonable prices to consumers in all parts of the country.

STRATEGIC FOCUS AREAS: The Fund will focus on the following prioritised strategic areas in its development agenda for the next five years:

Strategic Focus Area 1: Enabling Policy and Legal Environment 
The Fund will advocate for the updating of various legislative instruments, and policy frameworks, in order to enable the institution to better respond to current and future challenges confronting the petroleum sector. Initiatives under this goal will include, but not limited to, the amendment to the Lesotho (Petroleum Fund) Regulations of 2009, and the review of the Slate Management Policy.


Strategic Focus Area 2Capacity Enhancement of the Fund
Under this goal, the Fund will continue to develop and implement capacity building programmes for its workforce, in order to ensure that it remains relevant and equal to its tasks, in this dynamic environment. It is also to further promote the culture of good corporate governance and effective organisational leadership.


Strategic Focus Area 3: Financial Sustainability of the Fund
In recognition of its mammoth responsibility to finance some of the petroleum projects, the Fund will focus its attention on the diversification of its investment portfolio. This will entail efforts to enhance efficiency in levy collection, and investing in capital projects, with good return on investment.


Strategic Focus Area 4: Meaningful Stakeholder Engagements
The Fund recognises that, in order to effectively execute its mandate, there is a need to develop strategic partnerships and strengthen collaboration and cooperation among the sector stakeholders. Accordingly, programmes of engagement shall be developed and rolled out.


Strategic Focus Area 5: Service Delivery Enhancement
The Fund is sensitive and committed to ensuring that there is equitable supply of petroleum products across the country. Part of the efforts to achieve this goal will be to roll out the outcomes of the Transaction Advisory Services Consultancy that is currently being undertaken. The work entails a Gap Analysis on the availability and supply of petroleum products in the country.


Strategic Focus Area 6: Infrastructure Development
Under this goal, the Fund will continue to support Government’s efforts to establish a Strategic Storage Facility and Depots for all products. It will further advocate for strengthened infrastructure security measures at petrol and LPG stations.

Strategic Focus Area 7: Reputation and Image of the Petroleum Fund
On this focus area, the institution will strive to uphold credibility and integrity at all times. In this regard, initiatives such as developing a Service Charter, and undertaking Corporate Social Responsibility projects, will be carried out.


Strategic Focus Area 8: Strategic Partnerships with Regional and International Organisations Operating in the Petroleum Industry
As part of its repositioning, the Fund will continue to benchmark its operations with other regional and international organisations, particularly in the areas of project financing and regulation.


For more details, please contact:


Ms. Hakiloe Makhena
Personal Assistant
Office of the Executive Secretary
22312137/62074191

Fuel Price Adjustments – Thursday, March 05, 2020

Maseru – The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be adjusted effective from Friday, March 06, 2020. The pump prices of  both petrol 93 and petrol 95 will be decreased by ten (10) lisente per litre, the pump price of diesel 50 will be decreased by thirty-five (35) lisente per litre, the wholesale price of the illuminating paraffin will also be decreased by fifty (50) lisente per litre. 

The new Retail Prices for all the districts of Lesotho shall be as follows:

Petrol 93                                   M 12.30 per litre

Petrol 95                                   M 12.45 per litre

Diesel 50                                   M 12.95 per litre

Domestic Paraffin (Wholesale)   M   8.30 per litre

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. This appeal comes from the past observations that some retailers  have continued to charge prices that are above those set, and any retailer who will be found to be charging prices in contravention of these newly set prices, 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, Old Europa, Maseru and local radio stations.


 

Fuel Price Adjustments – Thursday, February 06, 2020

Maseru – The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be adjusted effective from Friday, February 07, 2020. The pump price of petrol 93 will be decreased by ten (10) lisente per litre, petrol 95 decreased by twenty (20) lisente per litre, the pump price of diesel 50 will be decreased by forty-five (45) lisente per litre, the wholesale price of the illuminating paraffin will also be decreased by thirty (30) lisente per litre. 

The new Retail Prices for all the districts of Lesotho shall be as follows:

Petrol 93                                   M 12.40 per litre

Petrol 95                                   M 12.55 per litre

Diesel 50                                   M 13.30 per litre

Domestic Paraffin (Wholesale)   M   8.80 per litre

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. This appeal comes from the past observations that some retailers  have continued to charge prices that are above those set, and any retailer who will be found to be charging prices in contravention of these newly set prices, 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, Old Europa, Maseru and local radio stations.


 

Fuel Price Adjustments – Thursday, January 9, 2020

Maseru – The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be adjusted effective from Friday, January 10, 2020. The pump price of petrol 93 will be decreased by fifteen (15) lisente per litre and petrol 95 decreased by twenty-five (25) lisente per litre, while the pump price of both grades of diesel (diesel 500 and diesel 50) will be increased by twenty-five (25) lisente per litre, the wholesale price of the illuminating paraffin will also be increased by fifteen (15) lisente per litre. 

The new Retail Prices for all the districts of Lesotho shall be as follows:

Petrol 93                                   M 12.50 per litre

Petrol 95                                   M 12.75 per litre

Diesel 50                                   M 13.75 per litre

Domestic Paraffin (Wholesale)   M   9.10 per litre

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. This appeal comes from the past observations that some retailers  have continued to charge prices that are above those set, and any retailer who will be found to be charging prices in contravention of these newly set prices, 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, Old Europa, Maseru and local radio stations.


 

Fuel Price Adjustments – Thursday, December 05, 2019

Maseru – The Petroleum Fund Secretariat wishes to inform the public that the prices of petroleum products will be adjusted effective from Friday, December 6, 2019. The pump price of petrol 93 will be increased by thirty (30) lisente per litre and petrol 95  increased by twenty (20) lisente per litre, while the pump price of diesel 500 will be decreased by fifteen (15) lisente per litre,  diesel 50 will be decreased by twenty (20) lisente per litre, the wholesale price of illuminating paraffin will be decreased by fifteen (15) lisente per litre.

The new Retail Prices for all the districts of Lesotho shall be as follows:

Petrol 93                                   M 12.65 per litre

Petrol 95                                   M 13.00 per litre

Diesel 50                                   M 13.50 per litre

Domestic Paraffin (Wholesale)   M   8.95 per litre

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. This appeal comes from past observations that some retailers have continued to charge prices that are above those set 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, Old Europa, Maseru and local radio stations.