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Economists happy over locally refined oil

By Nema Juma

Different Economists in South Sudan have expressed their happiness over the locally refined oil saying it would help reduce the skyrocketing Prices of fuel in the country.

They stated that this is what should have happened from day one because by having our own refinery we will be able to refine our fuel and the fuel product will have to be used for mantainence of roads and can also create other industries like plastic utensils and even plastic chairs.

Speaking toJuba Monitor on phone,Undersecretary in the Ministry of Investment, Dr. Abraham MalietMamer said that this was a good development and two things would happen.

“It is going to address skyrocketing prices of fuel, you know this fuel is being imported and because we are acting in the free market anyone can buy dollar at their own rate,” he said.

He stated that when we produce more, the demand will drop because we will be supplying a lot and when you supply a lot then the market cost drops down.

“So, for us in terms of economy, it is a good thing, it is going to address the issues of  fuel, you can see now Trinity Energy sells petrol at 300SSP, other petrol stations like Wunbur in Sheriket is charging 420ssp per alitre, others are charging 500ssp but if Nilepet comes in with the few supply the price will go down and then those companiesthat are bringing fuel from outside will have no way to go and buy from outside, they will buy from the Nilepet or from the refinery then they will distribute locally and then the price will be stable completely,” Abraham stated.

MeanwhileProf. Abraham Matoc, expressed his happiness saying this should have happened from the beginning.

If we had ourrefinery,we would have been be able to refine our fuel and the fuel productswould actually be used for maintenance of roads and also to create employment to the youth.

“This is a step forward to development and we will have control over our own oil products,” he said.

“It is a very good, I am so happy and excited and I encourage the government to continue like that,” Matoc said.

He said if we were to utilize our own oil properly we would have had the refinery, “I remember having a refinery was resisted by the colonial administration when the oil was dug for the first time and when it was discovered for the first time.

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