Fuel price hike increases transportation cost by at least 12%

In late July 2014, a month after the government’s price hike on oil products at the pump took effect, transportation costs climbed by 14% in Yaoundé, and by 12.6% in Douala, according to a study conducted by the National Institute of Statistics (INS).

Logically, this price hike in transportation in Cameroon’s two main cities led to an increase in consumption cost for households which grew by 2.4% in Yaoundé and by 2.6% in Douala, the country’s economic capital.

The price increase in the markets, according to the NIS, has been noteworthy in Douala where “the weekend after the fuel price increase, a bag of potatoes that previously cost 20,000 FCFA rose to 25,000 FCFA on the wholesale market.

Similarly, the crate of tomatoes which cost 8,000 FCFA rose to 10,000 FCFA. Significant increases have occurred for other produce: green bananas (17%), plantain (14%), sweet potato (17%), white yam (11%), cassava (14%) and macabo (25%).”

Since, 1st July 2014, the price of gas per litre in Cameroon increased from 569 FCFA to 650 FCFA, while that of diesel climbed from 520 FCFA to 600 FCFA.