Several petrol stations have run out of fuel, and motorist have been forced to queue for long hours, waiting for supplies. Nde Randy a taxi driver in Yaounde says since Sunday at the Mendong filling station, there has been no improvement in petrol stations.
” No improvement here, and trying to calm this down is a monumental task. There is no fuel. I have been here for hours. The surge in demand appears to be continuing, as since morning drivers have been coming here wanting to refuel.
Some users have simply decided to park their vehicles, while others can be seen with bottles trying to obtain fuel.
Government Subsidy.
According to the Minister of Trade, Luc Magloire Mbarga Atangana, the government has spent around 775 billion FCFA for subsidy of petroleum products. A liter of gasoline which normally should have cost 1016 is sold at 630 FCFA.A liter of diesel at filling stations which should have cost 1027 FCFA stands at 575 FCFA. Prices of Kerosene has stood at 350 FRS while Cooking gas cost 6500FCFA instead of 13277 for 12KG gas cylinders.
Will prices of fuel increase?
According to some experts, the Head of States end of year speech on fuel prices is an indication that prices might increase. In his speech he urged the government to do everything possible to ensure the prices are stable though, If changes are made in other African countries, it might affect Cameroon.
” I instructed the government to consider all options to stabilize prices of fuel and maintain the purchasing power, of consumers.it is becoming increasingly clear that Cameroon like in many other countries will not be able to avoid the petroleum products price adjustment, if we must preserve out physical balancing and continue implementing development policy. “he said during his end of year speech.
He added that the government spent over 700 billion as subvention for fuel in 2022 and 75 billion in cooking gas. The subvention is however weighing down on the government and could be useful if put into sectors that are more lucrative like the construction of roads.