Togo carried out a slight increase in prices of petroleum products, on Friday. As of June 4, a liter of super unleaded will cost 567 CFA francs.
"We should have made these adjustments since February 2011 but we continued our policy of subsidies while remaining attentive to the evolution of world prices. But today it has reached such a level that the state budget can not support an additional grant," said the Trade Minister Ahoumey-Zunu Sélécodji.
The authorities have decided on a series of accompanying measures such as granting a bonus of 5,000 francs to all public servants and private sector in categories B, C, D. Another quarterly bonus of 5000 francs will be given to students; finally, there will be a tax exemption on the road transport, including for taxi drivers and motorcycles.
"These measures are designed to shock-absorb and to help the most vulnerable to overcome the difficulties," Mr. Ahoumey-Zunu.