The Gabonese fuel price stabilisation mechanism cost FCFA 30 billion in September 2026 alone, the government said in the statement from the Council of Ministers of 8 October, published the following day.
Faced with this cost, President Brice Clotaire Oligui Nguema asked the government to study ways of reducing it, or even eventually eliminating it. This instruction opens a review and does not mean the scheme will be abolished or that pump prices will rise immediately.
Before the war in Ukraine, the monthly cost of the mechanism stood between FCFA 7 and 9 billion, according to figures released by the presidency. It then reached FCFA 15 billion during that crisis, before doubling in September under the effect of tensions in the Middle East and higher supply costs.
The scheme allows the state to contain the prices paid by consumers when the cost of importing and distributing fuel rises. The government says it keeps prices for white petroleum products and butane gas in Gabon among the lowest in the subregion, while acknowledging that the spending reduces the resources available for health, education and the fight against poverty.
The announcement follows a shortage that hit Libreville and other parts of the country. Ships were at berth and deliveries to petrol stations had resumed by the time of the Council of Ministers, but the authorities expected a gradual return to normal rather than an immediate recovery across the entire territory.
The head of state asked for a programme covering the modernisation of the Gabonese Refining Company, the strengthening of security stocks and preliminary studies for a new refinery. The programme must specify the timetable and financing of the investments.
The control services have also been instructed to fight the illicit resale of fuel and its transport in unapproved containers. No deadline has been set for any possible reform of the price support.