Luanda — Angola hiked the diesel price by one-third from Friday as part of the government's drive to curb costly subsidies and shore up public finances.
The African oil-producing country has been gradually removing fuel subsidies since 2023, encouraged by the IMF. The economy is under pressure because of a slide in the global crude oil price earlier this year, and the country faces external debt repayments of about $9bn (R160bn) in 2025, including a Eurobond maturing in November.
The diesel price has risen to 400 kwanza (R7.76) per litre from 300 kwanza, the second price hike this year.
The petroleum products regulator left prices for petrol and liquefied petroleum gas unchanged.
Finance minister Vera Daves de Sousa said in October that fuel subsidies amounted to about 4% of GDP last year and that the government planned to continue removing them in phases.
The IMF said in May it had cut Angola’s preliminary growth outlook for 2025 to 2.4% from an initial 3%, citing lower oil prices and tightening external financing conditions.
A petrol price hike in 2023 triggered deadly protests, but there was no immediate sign of social unrest on Friday.
Reuters
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