MASERU — The Petroleum Fund on Friday slashed the price of fuel for the second month running in what should be a timely reprieve for motorists.
The pump price for petrol has been slashed by a massive 15 lisente per litre while the price of diesel has been reduced by 10 lisente.
The price of paraffin, which is used by the majority of Lesotho’s poor households, has been slashed by five lisente per litre.
The latest fuel price adjustments come into effect following yet another decrease last month which saw the price of petrol, for instance, being slashed by 30 lisente.
The price for a litre of diesel was reduced by 15 lisente while the price of paraffin was also slashed by 15 lisente.
The fund said the price slash had been necessitated by the softening of crude oil prices on the international market.
This means that in Zone One, covering the lowlands of the country such as Quthing up to Mount Moorosi, petrol will now cost M7.05, down from M7.20.
A litre of diesel will now cost M7.50, down from the previous price of M7.60, while paraffin will now cost M5.15 a litre.
In Zone Two, which covers the Mphaki area, a litre of petrol will now retail at M7.11, while diesel will now cost M7.56 per litre.
A litre of wholesale paraffin now costs M5.20.
In Thaba-Tseka, which is in Zone Three, a litre of diesel now retails at M7.59, with petrol costing M7.14 per litre.
A litre of domestic paraffin now retails at M5.23.
In Mokhotlong, which is in Zone Four, petrol now retails at M7.23 per litre with diesel retailing at M7.68 per litre.
A litre of domestic paraffin now costs M5.31.
The declining fuel prices should be welcomed by the majority of Lesotho’s poor households who rely on paraffin for their energy needs.
The price slash is also expected to have a ripple effect on retail prices of goods in supermarkets.
The transport and agricultural sectors are also expected to welcome the relief on their fuel bills.