As subsidies are eliminated, fuel prices are rising in Cameroon
Following the government’s acceptance of pressure from the International Monetary Fund (IMF) to eliminate fuel subsidies, petrol prices in Cameroon would increase by around 15% as of Wednesday.
Diesel will cost 720 CFA francs ($1.19) per liter, up from 575 CFA francs ($0.9), and gasoline will cost 730 CFA francs ($1.21) per liter, up from 630 CFA francs ($1.04).
In order to mitigate the effects of the increase in fuel prices, the prime minister’s office also announced a 5.2% salary raise for public sector employees.
The administration had received numerous requests from unions to raise the minimum wage in the private sector.
In March, the IMF is anticipated to offer Cameroon a credit facility totaling $74.6 million (£60 million).