‘Mantšali Phakoana
The price of petroleum products has increased once again.
The Petroleum Fund says the prices of petrol, diesel and paraffin went up with effect from today.
Petrol 93 and petrol 95 prices have increased by M1.90 to M22.40 per litre and M22.90 per litre respectfully.
Diesel 50 now costs M24.00 per litre, after a hike of M3.15 while the price of paraffin jumped by M2.70, to M18.20 per litre.
According to a press release from the Petroleum Fund, the prices in Lesotho are subject to monthly adjustments based on a review of international and local factors.
“Specifically, on the first Wednesday of each month, the Fund considers various factors including the cost of importing finished petroleum products from major refining centres of the Middle East, the Mediterranean and Singapore.
“The costs are determined by various factors such as transportation, petroleum products at these centres and the associated duty charges. These elements are all critical in calculating the final price of the petroleum products sold locally,” it noted.
