On Thursday, January 29, 2015 at 10AM, a meeting with social partners was held in the multipurpose hall of the building of CSPH on the national and international situation of oil, under the chairmanship of Mr. Elung Paul CHE, Director General of CSPH. The following representatives were present during this meeting :
A representative of SONARA
Two representatives of MINEE
A representative of MINCOMMERCE
A representative of MINTRANS
Presidents of Unions for Road Transport
The presidents of Consumer Associations
The presidents of Carriers Union Confederations
Associations of Defenses Consumer Rights
In his introductory remarks, Mr. Elung PAUL CHE, Director General of CSPH and chairperson outlined a panorama of the oil situation nationally and internationally. Especially since the last increase in prices of petroleum products occurred in July 2014. The price of Brent after reaching a peak of 115USD/ Barrel in June 2014 declined steadily until today it stands at 46USD. The Cameroonian market meanwhile was regularly supplied by SONARA and imports made by some marketers. Note that if the fall in commodity prices observed in the international market were not reflected in prices at the pump until today, this is due to several reasons :
An accumulation of the shortfall to SONARA and surrounding importers 350 billion FCFA ;
A decrease of expected oil revenues in the state budget;
Higher cost of imported finished products due to the rise in dollar;
The resources for the fight against BOKO-HARAM in the northern region.
The next speaker was Mr. ZE NGUELE, Head of Department of Technical Affairs, who provided explanations on the international oil situation in respect of 2014. It is clear from these explanations that world prices are down because of market saturation by gross revenue due to the development of crude oil by the United States, not forgetting the refusal of the OPEC countries to lower their production quota.
This illustration by Mr. ZE NGUELE was followed by a series of questions and answers.
The Director General of CSPH initially clarified that it is not CSPH which sets prices at the pump, but the Government. Meetings are scheduled to pass on the same or exact information to those concerned in the sector. The trade unions and confederations present, pleaded that if prices are not reduced, let all stakeholders in the transport sector be properly informed. The Director General promised to convey their complaints to the Government and gave them an appointment within a period of three months for another meeting.
The meeting finally ended at about 11h30AM