The price of a litre of gasoline increase from 1.3 US Dollars to 1.4 US Dollars while that of gasoil climbed to 1.1 US Dollars from 1 US Dollars. The increase went into effect following a decision made the Private Oil Companies Association (GSPP) and representatives for the Ministry of Economy and Hydrocarbons.
According to GSPP Chairperson Emery BOPE, the marginal rise in the cost of gas and gasoil is a “mere readjustment of the pricing structure”. This will factor in certain changes that started affecting the cost of hydrocarbons commodities in the country. These changes include the exchange the US Dollars to Congolese Francs exchange rate which, since February 2016, registered a 5% inflation. Also amongst the drivers of the increase is the rising cost of oil commodities on the global market.
Although of a marginal magnitude, the cost of gasoline and gasoil increasing will adversely impact the economy, more-so as the DRC heavily relies on fossil fuels.