WHEREAS, Petroleum is a strategic commodity providing the main source of energy that is vital for the development and prosperity of the country the import of which requires substantial amount of foreign currency;

WHEREAS, it is necessary to ensure compliance of Petroleum and Petroleum Products to acceptable quality and safety standards to prevent risks against human health and safety, damage on natural resource and the environment arising from the distribution and use of such products;

WHEREAS, it is necessary to ensure that the supply and distribution of Petroleum and Petroleum Products adheres to proper trade practice and the accessibility of such products to the Public;

WHEREAS, it is necessary to establish an Authority that is responsible for monitoring and regulating the refining, supply, storage, transportation, distribution, retail of Petroleum and Petroleum Products and other related business activities;

NOW, THEREFORE, in accordance with Article 55 (1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows: