Fuel prices shoot up amid SSP depreciation

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Prices of fuel have been skyrocketing for the last three days as the local currency (SSP) continue to lose value against the US Dollar after the government decided to change the currency.

The sharp increase in prices of essential commodities reportedly forced some traders to close shops citing high cost of operations.

A market survey by Juba Monitor to assess the fuel prices yesterday found out that one litre of diesel sells between 400SSP to 550SSP in the black market while at fuel stations, 1 litre of the same commodity sells between 240SSP and 400SSP.

A woman who deals in diesel at black market in Juba town says her business has been running at loss since the government announced plans to change the local currency.

Those who did not want to be identified for fear of reprisal told Juba Monitor that they now buy one litre of petrol at 500SSP from fuel station and resale it at 550SSP in the black market.

“I have been doing this business for more than five years and have been getting profit but now I am getting only 50 Pounds (South Sudanese) per litre. My customers complain that I keep hiking the price but I also buy at high price from the fuel stations.

I used to sell at least 20 litres in a day but it now takes about a week to sell the same quantity,” she said.

 “I appeal to the government to solve problem of Dollar so that we can carry out our businesses without loss,” she added.

Another dealer of fuel in Konyokonyo black market says he now sells one and half litre of petrol at 700SSP because he buys equal quantity from fuel station at 500SSP.

“I buy 20 litres of petrol at 8000SSP and retail it at 700SSP per 1.5 litres. I get used to 1500SSP as profit but now it has dropped to 1000SSP,” says the man who calls himself a government soldier.

Meanwhile, Sicreto Tiara Alalason, a pump attendant at Pinnacle Petrol station in Konyokonyo says they have been selling one litre of petrol and diesel at 450SSP each for the last two days.

“Since Tuesday, we have been selling one litre of diesel at 450SSP, the same applies to petrol. Last week, we sole one litre at 360, the prices have been raised because of Dollar. We no longer receive as many customers as we did two weeks ago.  Customers are scared by these high prices but we do not have any option,” Mr. Alalason asserts.

Meanwhile, Trinity Energy and Nile Pet stations sole at 240 SSP per litre yesterday, provoking unanticipated influx of customers in need of fuel.  

The long queues are putting unnecessary pressure on pumps attendants at fuel stations selling at lower prices.

“We sell petrol at 240 and diesel is also sole at 240, we are having a lot of customers as you can see because other petrol stations are selling at high prices,” said Emmanuel, a pump attendant Trinity Energy in Konyokonyo Market yesterday.

Government on Wednesday announced it will inject lump sum cash into the market through the country Central Bank and other certified commercial banks to enable it bring down prices of goods in the market.

VIA JUBAMONITOR

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