Fuel prices in Lesotho have experienced a slight increase this month, a shift that was anticipated by the Central Energy Fund (CEF) based on earlier forecasts. According to an unaudited report released by the CEF last month, several fuel products have seen modest price hikes, with petrol, diesel, and illuminating paraffin all affected.
The CEF’s data indicated that the price of ULP95 petrol would increase by approximately 14 cents per litre, while ULP93 would see a smaller increase of around three cents per litre. Diesel prices were expected to rise by between 13 and 14 cents per litre, and illuminating paraffin was projected to increase by approximately seven cents per litre.
However, the Lesotho Petroleum Fund’s recent press release provides updated figures for fuel price increases at the pump. According to the announcement, the price of petrol 93 will rise by 30 lisente (cents) per litre, while petrol 95 will see a higher increase of 45 lisente per litre. Diesel prices will also increase by 45 lisente per litre, and illuminating paraffin will experience the largest increase, rising by 40 lisente per litre.
These increases in fuel prices come at a time when many consumers are already grappling with the high cost of living. With fuel being a significant component of daily expenses for many households and businesses, the recent hikes are likely to impact transportation costs and, in turn, the prices of goods and services across the country.
While the slight increase in fuel prices was expected, it underscores the ongoing challenges of managing fuel pricing amid fluctuating global oil prices and local economic conditions. The rise in fuel costs also highlights the importance of government and industry efforts to mitigate the broader economic impact, particularly on the most vulnerable segments of the population.
As fuel prices continue to rise, consumers will need to adapt to the changing economic landscape. It remains to be seen how these price adjustments will affect public sentiment and whether further increases will be necessary in the coming months.
