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Burundi: Oil Price Hikes

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Burundi Réalités (Bujumbura)

12 December 2007
Posted to the web 12 December 2007

Bujumbura

The government of Burundi has decided to increase the price of oil. A litre of diesel costs 1620 francs while a litre of gasoline costs 1600. This increase of the price of oil was caused by the demand of importers. In September and November of this year, following the fluctuations of the price of oil on the international market, importers demanded, in letters to the ministry of commerce, an increase in the oil price at filling stations. They also threatened to stop filling oil if the government rejected their demand.

The government has agreed to raise the price of oil although the Burundi's Consumers' Association (ABUCO) was opposed to the move on the grounds that this will cause prices of other commodities to rise. The Oil Special Fund which was aimed at facing fluctuations of oil price has been emptied. More than 2 billion francs have gone missing, according to the Observatory for the Fight against Corruption and Economic Embezzlement (OLUCOME).

This is the fourth time that the price of oil has increased within this year. After the recent increase, the bus and taxi fares in capital of Bujumbura rose and is likely to rise again.

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