Mozambique has slashed the price of liquid fuels with effect from Thursday on the back of declining global prices and a firming local currency, the Ministry of Mineral Resources and Energy announced on Wednesday.The ministry said in a statement that cooking gas would cost US$1.02 a kilogramme with effect from Thursday, down from the current US$1.05.
A litre of kerosene would now cost US$0.29 a litre, down from US$0.30.
According to the ministry, the price reduction comes on the back of falling price of oil on the world market, and the stability of the country’s currency, the metical.
Mozambique Petroleum Import Agency director general Joao Macanja told journalists in the capital Maputo on Wednesday that the fall in world oil prices was due to a number of factors.
“One of the most significant is the perception of a slowdown in international economic activity, resulting from the tensions between China and the United States,” he said.
Government policy is to review the prices of liquid fuels every month and to change them whenever the import price, expressed in meticais, moves by more than three percentage points in either direction.
The last time fuel prices were reviewed was on 18 April.