How does the reduction in crude oil prices impact the pricing of fuel locally ?
When the price of crude oil goes down, the buying price or import price becomes competitive. This benefits businesses active in the petroleum sector as they may receive favourable prices from the market and benefit from favourable supply margins. Pricing of petroleum products in Botswana is controlled by the Government of Botswana. BOL does not control the pricing of fuel, this responsibility lies with the Botswana Energy Regulatory Authority (BERA) which makes a recommendation to Cabinet for consideration.