Government releases new adjusted fuel, gas prices

The government informs the public that fuel prices at petrol stations and domestic gas from July 1, 2014 have been readjusted: - Accordingly,

• The super moves from 569 FCFA a liter to 650 FCFA • A liter of diesel increases from 520 FCFA to 600 FCFA • A 12 cylinder gas increases from 6000 FCFA to 6500 FCFA

These adjustments have been made for two reasons. • Due to the continuous increase in oil prices on the international market • To reduce the ever-increasing burden on the state budget as subsidy for the

low fuel prices; a situation that deprives Cameroonians of resources needed for the development of many social, educational and infrastructural projects. For example, from 2008 to 2013 this subsidy cost the state, 1,200 billion FCFA and 157 FCFA billion just for the first six months of the year 2014.

In order to safeguard the purchasing power Cameroonians and to mitigate the effects of these adjustments, the government shall implement the following measures:

- Maintain the price of a liter of petrol at 350 FCFA; - 50% reduction in the amount of tax for businesses, parking fee and axle tax - Adjustment of salaries of state employed workers - Immediate consultations with partners in view of an increase in the country’s minimum wage.

The government urges the population to show a sense of responsibility and citizenship in the implementation of these measures which have been put in place to generate necessary resources to finance many development projects.