Fuel Prices Guinea

From energypedia

Part of: GIZ International Fuel Price database
Also see: Guinea Energy Situation

Fuel Pricing Policies

Local Currency: GNF
Exchange Rate: 6840.83


Last Update:

The Ministry of Commerce regulates fuel prices.

Fuel prices appear to be uniform across the regions of the small country.

The price for gasoline and diesel had to be increased steadily due to a decline of the Guinean Franc in relation to the US-Dollar. (The diagrams above show this effect.) Also, the salaries for public services were increased drastically in early 2010 (→Annex A1). However, the purchasing power of the poor declines leading to considerable poverty.

Due to an internet article (→Annex A3), fuels are subsidized in Guinea. The price hikes are also argued to be necessary, because the subsidies are too expensive for the country (thus, the US-Dollar-equivalent price also increases, see diagrams above). Further, according to the trade minister, the subsidies led to smuggling of 20-30% of all imported fuels to neighboring countries, which have much higher fuel prices (→Annex A2).

Fuel Prices and Trends

Gasoline 95 Octane Diesel
in USD*

in Local Currency

* benchmark lines: green=US price; grey=price in Spain; red=price of Crude Oil

Fuel Price Composition

Price composition.

Internet articles state, that there were fuel subsidies, which are being reduced gradually.

No official information available.

At a Glance

Transparency of
Price Composition
Transparency of Pricing
Mechanism / Monitoring
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Sources to the Public

Type of Information Web-Link / Source
Other Information http://www.afrik.com/article19109.html (A1)
Other Information http://www.guineeweb.org/article-guinee-augmentation-du-prix-du-carburant-a-la-pompe--44198425.html (A2)
Other Information http://www.africanmanager.com/site_eng/detail_article.php?art_id=16008 (A3)


Please find more information on GIZ International Fuel Price Database and http://www.giz.de/fuelprices

This is a living document. If you have any comments or suggestions, please feel free to contact us: Armin.Wagner@giz.de