By EPN Reporter
MBABANE – Despite that fuel price should be increased this month, Government has decided against doing so this month.
This announcement was made by Principal Secretary of the Ministry of Natural Resources and Energy, Dorcas Dlamini, in a statement issued by her ministry yesterday.
“The Ministry of Natural Resources and Energy herby informs the public that despite the fact that the market situation warrants a fuel price increase, there will be no adjustment of fuel price increase during the month of February 2024,” states part of the statement.
The reason for this, according to Dlamini, is that the deficit incurred this month is within the allowable limit to cushion the price. She said in the month of January, the global prices of fuel were on an upward trend. Brent crude oil traded on an average of USD82.72 a barrel.
This is compared to a price of USD81.11 per barrel which was realised in December 2023. The Lilangeni/US Dollar exchange rate, according to Dlamini, continued to depreciate to an average of E18.79, compared to E18.67 in December 2023.
The PS pleaded with the nation to use fuel efficiently, in view of the fact that the fuel market, and the financial exchange market remained volatile.
