June 3 Fuel Prices: Gasoline, Diesel Rise, While Kerosene Continues to Fall

June 3 fuel prices: Gasoline, diesel rise, while kerosene continues to fall

Pump prices are set for mixed movements this week: gasoline price is set to increase for a third straight week starting Tuesday, June 3, while diesel price is rebounding from a rollback and kerosene price is expected to drop further.

The values will be changed throughout the country. They respond to the adjustment of a tax that was defined by the Government.

This is due to the recent decline in the price of the barrel of oil on the international market. However, as Madagascar is a country entirely importing refined petroleum products, world price changes are reflected locally with a two-month lag, since shipping and shipping formalities to the national territory require an average of eight weeks. This lag mechanism explains why the effects of the current decline in international prices will only beg…