Volume 3, issue #5 - 10-02-1998

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Cameroon liberalises prices

Jan. 2, 1998 Cameroon has liberalised prices of petroleum product saying that henceforth they would be based on world prices.
An order signed by the Minister of State for the Economy and Finances said that from Jan. 1 1998 the prices, including those of the SONARA national refinery, would no longer be set by the government.
Officials said that there would be an initial drop in the cost of gasoline and diesel. Gasoline would fall from 380 CFA francs a litre (64 $cents) to 376 CFA francs, diesel from 295 to 290 CFA a litre.
($ 1 = 596 CFA francs)