ADDIS ABABA -- The Ethiopian government Sunday hiked fuel prices by at least 19 percent owing to the hike in the world market, an official statement said.
Accordingly, a liter of benzene will now cost 8.17 birr ($0.94) from previous 6.68 birr, diesel will cost 5.44 birr from 4.78 birr and kerosene will cost 4.12 birr up from 3.45 birr.
The new prices represent a 19 and 22 percent hike for diesel and benzene from the previous costs.
"Due to the political turmoil in the Middle East and the high demand for oil world wide it has become necessary to adjust the retail sale of oil in the country," according to a statement released by the trade and industry.
"Any one who will use this price adjustment as an excuse to increase price on other goods and items will be punished accordingly," the statement warned.
The hike comes as the Horn of Africa nation reels from a deadly flood carnage that has claimed 639 people and displaced tens of thousands since the beginning of the month.
