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Angola increased diesel prices by a third starting Friday as part of the government’s strategy to reduce expensive subsidies and strengthen public finances.
The oil-rich African nation has been systematically eliminating fuel subsidies since 2023.
Its economy faces challenges due to a decline in global crude oil prices earlier this year, along with upcoming external debt repayments totalling approximately $9 billion in 2025, including a Eurobond that is due in November.
The diesel price has increased to 400 kwanzas ($0.4386) per litre from 300 kwanzas, marking the second price rise this year.
The regulatory body for petroleum products has maintained the prices for petrol and liquefied petroleum gas at their current levels.
In October, Finance Minister Vera Daves de Sousa stated that fuel subsidies had accounted for approximately 4% of the country’s gross domestic product in the previous year, indicating the government’s intention to continue phasing out these subsidies.
The IMF noted in May that it had revised Angola’s preliminary growth forecast for 2025 from 3% to 2.4%, citing reduced oil prices and tightening external financing conditions.
A petrol price increase in 2023 sparked deadly protests; however, there were no immediate signs of social unrest in Angola on Friday.
