Fuel price raise

Troops on alert in B’da to forestall riots
By Njodzefe Nestor in Bamenda

Fuel prices have upped at gas stations

Following the recent cut on fuel subsidies which has resulted to price hikes in petroleum products, Security forces in the North West region are reportedly on Red alert to avert riots which might erupt like that of February 2008 when the government took a similar measure.
    According to sources close to The Median, security forces in Bamenda have been called upon to watch the population keenly especially taxi drivers, visit popular spots and eavesdrop public conversations and ensure that no plans are hatched to this effect.
    According to a Prime ministerial decree read over state radio on Monday, the prize of petrol popularly known as supper will increase by 85 CFAF while that of Diesel has been increased by 80 CFAF and domestic cooking gas by 500 CFAF.

    In Bamenda the prize per litre has moved from 578F to 663F for petrol and from 530F to 610F for diesel while cooking gas that sells at the unofficial prize of 7000F and 7500F is some places is expected to increase by 500 Frs.
    It’s the first time since January 2008 that the prizes of hydrocarbon products in the country have witnessed an increase.
Since the announcement Monday, Bamenda inhabitants have been reacting differently to it. While some are saying that the move is salutary, others see it as signs of the new deal regime collapsing.
    Defending the initiative, Julius Ngoran, a Bamenda based Economics lecturer said the new increase is due to the increasing prize of crude oil in the international market emphasizing that it will reduce the huge subvention to the sector by the state.
    It is worth noting that a total of 1200 billion FCFA has been invested in the sector as government subvention since 2008, while a staggering 157 billion FCFA has already been pumped into the sector since January this year.
    Sharing a contrary view Karim Ambe, a public policy analyst said the move is evidence of the fact that the New Deal government of President Biya is collapsing. He added that government is just unconsciously inciting yet another nation-wide     riots like was the case in 2008.    
    The government according to official sources intends to channel the money previously spent on fuel subsidies to other social and economic projects that can impact the common man more.
    Some measures announced to soothe the effect of the price increase include a 50% reduction in the withholding tax, the parking fee and axle tax. Government has also announced studies to raise the salaries of state workers and the minimum wage in all sectors of the economy. It is hoped that these measures when taken would help to boost the purchasing power of the population. 
    It should be recalled that a similar rise in fuel prizes in January 2008 sparked the infamous Food Riots in Cameroon in February that year.
    The recent increase comes barely days after the president and his wife took part in an AU summit on Food security in Africa in Malabo Equatorial Guinea last week.