A communiqué from the Prime Minister’s Office announcing the upward review of fuel pump prices.

“The government announces to the public that the filling-station prices of fuel and cooking gas are, with effect from 1 July 2014, modified as follows:

-          One litre of premium grade rises from CFAF 569 to CFAF 650

-          One litre of gasoil rises from CFAF 520 to CFAF 600

-          A 12.5-kg canister of cooking gas rises from CFAF 6,000 to CFAF 6,500.

This readjustment stems from the need to factor in the continuous increase of oil prices on the world market and reduce the growing burden of oil subsidies on the State budget which deprives the national community of resources necessary for the realization of social, education and infrastructural projects.

To illustrate, oil subsidies cost the State a total of CFAF 1,200 billion from 2008 to 2013, and CFAF 157 billion for the first six months of the current fiscal year alone.

To preserve the purchasing power of Cameroonians and mitigate the impact of this readjustment on the national economy, the government has also decided on the following measures:

-          A litre of kerosene will continue to cost CFAF 350;

-          The discharge tax, parking tax and axle-load tax will be reduced by 50%;

-          The salaries of state employees will be increased;

-          Consultation (all parties equally represented) will start immediately with a view to raising the minimum wage.

The government counts on the understanding, sense of responsibility and civic spirit of all for the implementation of these measures designed to free up resources needed to finance numerous development projects that will benefit our population.”

Yaounde, 02 July 2014

(s) Louis Paul MOTAZE

Secretary General of the

Prime Minister’s office