Oil product prices in Mozambique will rise between 7% to 22% starting Thursday, reflecting the rising price of a barrel of crudeannounced this Wednesday the Energy Regulatory Authority (ARENE).

The last price adjustment had occurred almost a year ago, in November 2020, and at that time prices had dropped.

Now, cooking gas is the one that suffers the biggest increase, by 22%, going from 58.18 to 71.02 meticais per kilo.

Gasoline goes up 10% from 62.5 to 69.04 meticais per liter, while diesel increases 7%, from 57.45 to 61.71 meticais per liter - it is the product with the smallest increase.

Light oil rises almost 11%, from 43.24 to 47.95 meticais per liter.

Vehicular natural gas goes up almost 9% from 30 to 32.69 meticais per liter.

The petroleum products for sale in Mozambique are imported by sea in special freighters, through a process centralized by law into a single public entity, IMOPETRO, owned by the distributors of petroleum products operating in the country. 

Then, it is up to ARENE to determine the retail prices to be charged throughout the national territory according to calculations established by law.

The prices announced may be higher at the stations outside the territorial districts of cities with distribution terminals (Matola, Beira, Nacala and Pemba), since the law provides that there may be an increase in transportation costs to these stations.

The price of a barrel of Brent crude oil for December delivery ended Wednesday on the London futures market up 0.89%, to $85.84.

The upward pressure on crude oil prices remains, due to the prospect of some oil producers not increasing their production at the same pace as demand, driven by the post-pandemic economic revival and the arrival of cold weather in the northern hemisphere.

Lusa Agency