Botswana raises petrol, diesel prices
Petrol and diesel prices increase on Friday due to global fuel market tensions and shipping costs.
Botswana will see higher fuel prices starting Friday, October 23, after midnight. Petrol 95 will rise by 154 thebe per litre to 1,975 thebe, and diesel 50ppm will increase by 283 thebe per litre to 2,376 thebe. Illuminating paraffin prices will remain unchanged.
Botswana Energy Regulatory Authority CEO Dr Never Tshabang announced the price hikes, attributing them to rising international fuel market costs. Global oil prices climbed due to Middle East tensions, impacting refined product prices, freight, insurance, and exchange rates for Botswana, which imports refined fuel.
The International Energy Agency reported increased shipping costs from the Middle East Gulf to Asia, more than five times pre-conflict levels. This affects diesel prices significantly, impacting transport, farms, mines, and construction companies, with potential ripple effects on food and building material costs.
Why it mattersBotswana households, transport operators, and businesses face increased costs for petrol and diesel.