Angolan government foresees full liberalization of fuel prices starting in 2025

The Angolan government plans to liberalize fuel prices, in a phased manner, until 2025, starting with the partial removal of gasoline subsidies, whose price will be “free and floating” as early as next year.

According to a press release by the Angolan Ministry of Finance (Minfin), the Government’s Strategy for the Reform of Fuel Subsidies aims to reallocate these resources, ending its indiscriminate allocation and privileging the direct subsidization for segments with greater social impact, reinforcing the support to families with lower income, as well as the sectors of Agriculture, Fisheries, Transport, and Logistics.

“There will be a partial removal of the subsidy on the price of gasoline, and a partial and progressive removal of the subsidy on the price of diesel and light oil, in stages from 2024 until it is liberalized in 2025,” says the press release.

The price of gasoline will be €0.48, an increase of 87.5% compared to the current price, and will become free and floating as of 2024.

The subsidies for the remaining products, such as diesel, cooking gas, and illuminating oil, will remain unchanged until the end of this year.

This reform is part of other political and economic measures “aimed at strengthening public finances, in a logic of sustainability for future generations, and improving the business environment to boost domestic production and export distribution,” notes the same document.

With information from Lusa

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