Mines & Energy Ministry announces June 2024 fuel price review decision

The Ministry of Mines and Energy has released its fuel price review for June 2024, detailing significant over-recoveries across various fuel types. Despite these over-recoveries, the Ministry has decided to keep fuel prices unchanged for the month of June.

The review highlights the following over-recoveries:

– Petrol: 52.747 cents per litre

– Diesel 50ppm: 86.103 cents per litre

– Diesel 10ppm: 98.120 cents per litre

In light of these figures, the Ministry has resolved that there will be no adjustments to the current prices of petrol and both grades of diesel.

This decision comes as a measure to stabilize fuel costs for consumers despite the noted over-recoveries. The Ministry reaffirms its commitment to closely monitor fuel prices and make necessary adjustments to balance economic and consumer interests.

The unchanged prices will help maintain cost predictability for businesses and individuals alike, ensuring that the benefits of the over-recoveries can be strategically managed.