Somaliland:Government Introduces New Automatic Pricing Mechanism for all Petroleum Products

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By Goth Mohamed Goth

Hargeisa-The control and setting of prices of petrol, diesel and LPG Products at the retail level through the APM mechanism which is intended to stabilise the prices of the petroleum products in the country at the present time is a necessary and a must resolve by the government Somaliland government as of the 11th, Feb, 2018 to set the retail prices of petroleum and diesel product as determined by a managed float system based on the Somaliland Shilling.

Hon Mahmod Hassan Sacad Sajin, the Minister of Commerce, industry and Tourism briefieng reporters in his office said, “The government of Somaliland calls upon all petrol stations to sell their petroleum products on a fixed price of and 8,200 for petrol as set through the newly introduced automatic pricing mechanism (APM) implemented by the SL government.

 

“In regard to the rising and falling prices of petroleum products in the world market, this has colossal effects on the general populace and the national economy, and the fact being the rising prices of such products on the part of the the companies which import petroleum products do not call on a hike of prices by retailers (Petrol Station) in any way or form, as proved by our in-depth delibration with the various concerned stakeholders in the industry”, he stated.

 

The Minister of Commerce added, “After intense deliberations, we (Government) and the companies which import petroleum products reached understanding  which rules out the need of increasing petroleum products at the present.

 

The Ministry of Commerce, industry and Tourism further states that the price of 1 liter of deisal shall not exceed SL Shilling 7,200/7500 and price of 1 liter of SL Shilling 8,200.

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