Angola has increased the price of diesel by one-third, from 300 kwanzas to 400 kwanzas ($0.44) per liter, as part of its efforts to reduce costly subsidies and strengthen public finances.
This is the second price hike this year, and it comes as the African oil-producing country faces pressure on its economy due to lower global crude oil prices and external debt repayments of around $9 billion in 2025.
The move is part of the government’s plan to gradually remove fuel subsidies, encouraged by the International Monetary Fund (IMF).
The IMF has also cut Angola’s preliminary growth outlook for 2025 to 2.4% from an initial 3%, citing lower oil prices and tightening external financing conditions.
Despite concerns about potential social unrest, there were no immediate signs of protests in Angola following the price hike.
