{"id":8110,"date":"2021-10-29T17:48:37","date_gmt":"2021-10-29T17:48:37","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/?p=8110"},"modified":"2021-10-29T16:37:58","modified_gmt":"2021-10-29T16:37:58","slug":"fuel-price-hike-could-be-worse-finance-minister-mozambique","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique","title":{"rendered":"Fuel price hike: Could be worse \u2013 Finance Minister | Mozambique"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Minister of Economy and Finance of Mozambique, Adriano Maleiane, said in parliament this Thursday (October 28) that the increase in the price of petroleum products last week was still below what the calculation rules foresee.<\/p>\n

The price of gasoline \u201ccould be 75 [meticais per litre]\u201d instead of 69, if the law was strictly applied, Adriano Maleiane said.<\/p>\n

The increase wasn\u2019t bigger because it was necessary \u201cto do things gradually until we are back on the formula and operating as agreed\u201d between the government and gas stations, Maleiane said.<\/p>\n

The calculation rule takes into account the price of a barrel of crude and the exchange rate, providing for updates whenever there are variations of more than 3%.<\/p>\n

However, there have been no adjustments for a year because of the damage caused by the pandemic to the economy: \u201cWe didn\u2019t think we should increase any more\u201d the cost of living, Maleiane explained. But eventually, \u201cthere was no longer any way to hold to this, or else we would run the risk of running out of fuel and everything would be at a standstill\u201d, he said. \u201cSo, it was necessary to review prices and even so, care was taken to reflect on it 100% of what the formula says,\u201d he reiterated, without clarifying the direction of future updates.<\/p>\n

Transport allowance<\/b><\/p>\n

On Monday, Minister Tonela justified the price hike with the need to avoid a collapse in the sector, taking into account that some gas stations were having to borrow to withstand the damage caused by the lack of adjustment of retail price.<\/p>\n

In Mozambique, all fuel is imported, at an average cost of US$850 million per year, Maleiane explained. Taking into account that the country annually exports US$1.3 billion\u2019s-worth of traditional products (excluding minerals and metals), \u201c66% of [traditional] exports go to buying fuel\u201d.<\/p>\n

Should consumers expect more increases?<\/b><\/p>\n

In response to concerns raised by MPs about the impact on the cost of living, Maleiane replied that the government was subsidising the transport sector, instead of subsidising the petrol stations (as it did until 2015). Support reaches transport users, instead of benefiting all those who fill up their tanks, some of whom might need no support.<\/p>\n

On the other hand, the principle is to strengthen the private and family sector of the economy (for example, in agriculture) in order to better prepare themto face external shocks.<\/p>\n

Last week, Mozambique\u2019s Energy Regulatory Authority (ARENE) announced a rise in oil product prices in the country between 7% and 22%, reflecting the rise in the price of a barrel of crude.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Minister of Economy and Finance of Mozambique, Adriano Maleiane, said in parliament this Thursday (October 28) that the increase in the price of petroleum products last week was still below what the calculation rules foresee. The price of gasoline \u201ccould be 75 [meticais per litre]\u201d instead of 69, if the law […]<\/p>\n","protected":false},"author":84,"featured_media":8109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12,16],"tags":[233,281,283],"class_list":["post-8110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nFuel price hike: Could be worse \u2013 Finance Minister | Mozambique - Mozambique<\/title>\n<meta name=\"description\" content=\"The Minister of Economy and Finance of Mozambique, Adriano Maleiane, said in parliament this Thursday (October 28) that ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel price hike: Could be worse \u2013 Finance Minister | Mozambique\" \/>\n<meta property=\"og:description\" content=\"The Minister of Economy and Finance of Mozambique, Adriano Maleiane, said in parliament this Thursday (October 28) that ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-29T17:48:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/10\/img-617c2338498dc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"438\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fuel price hike: Could be worse \u2013 Finance Minister | Mozambique\",\"datePublished\":\"2021-10-29T17:48:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique\"},\"wordCount\":442,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2021\/10\/img-617c2338498dc.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/fuel-price-hike-could-be-worse-finance-minister-mozambique\",\"name\":\"Fuel price hike: Could be worse \u2013 Finance Minister | Mozambique - 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