Angola has increased diesel prices by a third as part of its ongoing efforts to cut costly fuel subsidies and improve government finances.
The new price of diesel is 400 kwanzas (about $0.4386) per litre, up from 300 kwanzas, and took effect on Friday, according to News Central.
This marks the third diesel price hike this year as the oil-rich country continues to scale back fuel subsidies introduced in 2023.
The government is under pressure to manage its economy as it deals with falling global oil prices earlier this year and prepares to meet external debt obligations of around $9 billion in 2025, including a Eurobond due in November.
While diesel prices have gone up, the authority overseeing petroleum products has kept petrol and liquefied petroleum gas prices unchanged for now.
In October, Finance Minister Vera Daves de Sousa said fuel subsidies had made up about 4% of Angola’s GDP last year, making clear the government’s commitment to phasing them out.
The International Monetary Fund in May revised its 2025 growth forecast for Angola down from 3% to 2.4%, citing the impact of weaker oil prices and tighter external financing conditions.
Although an increase in petrol prices in 2023 led to deadly protests, there were no immediate reports of unrest in the country following Friday’s diesel price rise.
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Image Credit: Ver Angola
