Price Of Cooking GAS Falls By Five Per Cent

Price Of Cooking GAS Falls By Five Per Cent

Maputo, 20 Jan (AIM) – The Mozambican Energy Regulatory Authority (ARENE) on Thursday announced a cut of slightly more than five per cent in the price of LPG cooking gas.

The price of a kilo of cooking gas falls from 95.04 to 90.01 meticais (from 1.5 to 1.4 US dollars, at the current exchange rate). This is a cut of 5.03 per cent. The new price took effect on Friday.

The prices of all other petroleum-based fuels remains unchanged.

An ARENE press release noted that the future prices for crude oil on the international market have fallen since December, thanks to the maximum price applied to Russian oil, in the wake of the Russian invasion of Ukraine, plus the prospects for a slowdown in the world economy, and an increase in the amount of oil held in reserves.

Othe factors that had an impact on prices included the slackening of international demand for petroleum, because of the resurgence of the Covid-19 pandemic in China.

ARENE says it will continue to monitor the market, particularly the international prices of crude oil and of refined products.

This is the second fall in the price of cooking gas in the past two months. On 15 December, ARENE cut the price of cooking gas by almost seven per cent (from 102.02 to 95.04 meticais a kilo).
(AIM)
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