Fuel Prices Guinea
Part of: GIZ International Fuel Price database
Also see: Guinea Energy Situation
Fuel Pricing Policies
| Local Currency: | GNF |
| Exchange Rate: | 6840.83
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| Last Update: |
The Ministry of Commerce regulates fuel prices.
Fuel prices appear to be uniform across the regions of the small country.
The price for gasoline and diesel had to be increased steadily due to a decline of the Guinean Franc in relation to the US-Dollar. (The diagrams above show this effect.) Also, the salaries for public services were increased drastically in early 2010 (→Annex A1). However, the purchasing power of the poor declines leading to considerable poverty.
Due to an internet article (→Annex A3), fuels are subsidized in Guinea. The price hikes are also argued to be necessary, because the subsidies are too expensive for the country (thus, the US-Dollar-equivalent price also increases, see diagrams above). Further, according to the trade minister, the subsidies led to smuggling of 20-30% of all imported fuels to neighboring countries, which have much higher fuel prices (→Annex A2).
Fuel Prices and Trends
| Gasoline 95 Octane | Diesel | |
|---|---|---|
| in USD* |
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| in Local Currency |
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* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil
Fuel Price Composition
Price composition.
Internet articles state, that there were fuel subsidies, which are being reduced gradually.
No official information available.
At a Glance
| Regulation-Price-Matrix |
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Sources to the Public
| Type of Information | Web-Link / Source |
|---|---|
| Other Information | http://www.africanmanager.com/site_eng/detail_article.php?art_id=16008 (A3) |
| Other Information | http://www.afrik.com/article19109.html (A1) |
| Other Information | http://www.guineeweb.org/article-guinee-augmentation-du-prix-du-carburant-a-la-pompe--44198425.html (A2) |
Contact
Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices
