The normal month to month cargo ready (FOB) cost of benzene in January was USD 69 for each barrel, diesel USD 74 and fly fuel USD 73. In April, the cost of a barrel of benzene was USD 20, diesel USD 24 and stream fuel was USD 15.
Tadesse said when the cost of fuel hit base stone Ethiopia couldn’t exploit as it doesn’t have additional storage space. “In the past the oil makers needed to clear the stock since they run out of extra room. One day in March the cost of a barrel of fly fuel was five dollars. Shockingly, in Ethiopia we don’t have fly fuel station so we were unable to store fly fuel,” Tadesse said.
Ethiopia’s 12 stations have an absolute stockpiling limit of 420,000 m.cu of fuel. The primary stop is situated in Awash. “We have restricted capacity limit so we were unable to purchase and store fuel when the cost was so low,” Tadesse said. As of late, EPSE committed the Sululta Fuel Depot just for benzene. The Sululta warehouse has the ability to store 60,000 cu. m of fuel.
Ethiopia’s yearly fuel utilization remains at 4,000,000 metric tons and the public authority burns through 2.9 billion dollars to buy and import the oil based commodities. Adjoining Sudan used to supply up to the vast majority of benzene yet as of late this has declined to just 20%. Kuwait Petroleum Corporation supplies 50% of the diesel interest, 75% of the stream fuel utilization. UAE’s Abu Dhabi National Oil Company (ADNOC) conveys 80% of the benzene utilization, 50% of the diesel and 25 percent of the stream fuel utilization.