Local fuel prices have increased a little with an increase of K25 to K60 per litre in January as global oil prices increase more this month than the previous month, according to local petrol stations.

When global oil prices got high and dollar price appreciated, local fuel prices increased continuously with 21 percent in four months from June to October this year. At that time, one litre of 92 Ron octane was priced K1,065, one litre of 95 Ron octane K1,115, one litre of diesel K1,095 and one litre of premium diesel K1,105.

Since the second week of October in 2017, oil prices per barrel had significantly increased with US$49 in early August. The price increased to US$76 on October 2018.  Then, the prices decreased continuously. It reached up to US$42 on December 24. However, the price increased again to around US$54 on January 21 and US$52 on January 29.

After record-high prices in October 2018, fuel oil prices on January 3 this year decreased to K850 for one liter of diesel (K3,895 per gallon), K855 for one liter of premium diesel (K3,881 per gallon), K670 for one liter of 92 Ron octane (K3,041 per gallon) and K730 for one liter of 95 Ron octane (K3,314 per gallon).

In comparison with prices on October 10 this year, in over two months, prices have decreased by 22 percent for diesel, 23 percent for premium diesel, around 36 percent for 92 Ron octane and around 33 percent for 95 Ron octane.

As global oil prices increase despite dollar depreciation in January this year, local fuel prices have increased again this month ranging from K25 to K60.

Prices from local filling stations on January 29, were K885 for one liter of diesel (K4,017 per gallon), K895 for one liter of premium diesel (K4,063 per gallon), K695 for one liter of 92 Ron octane (K3,155 per gallon) and K790 for one liter of 95 Ron octane (K3,586 per gallon).