Angola hikes diesel price in another step to cut subsidies

Major crude oil producer Angola is one of many African countries that have been squeezed by surging debt costs and high pump prices. ($1 = 832.8250 kwanzas)

Angola's petroleum products regulator hiked diesel prices by about 48% from Tuesday, part of government efforts to curb costly subsidies that have strained public finances.

The price of diesel was increased to 200 kwanzas ($0.2401) a litre starting Tuesday, the regulator said in a statement dated April 22. The price of diesel was 135 kwanzas a litre previously, and the regulator left the price of other fuels like petrol and liquefied petroleum gas unchanged.

Finance Minister Vera Daves de Sousa said last month

that Angola was committed to removing all fuel subsidies in a way that would not lead to any backlash. A near-doubling of fuel prices in June last year triggered deadly protests in the southern African country, as thousands took to the streets.

But the capital Luanda was calm on Tuesday. Major crude oil producer Angola is one of many African countries that have been squeezed by surging debt costs and high pump prices.

($1 = 832.8250 kwanzas)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)