AFRICAN governments have imposed sharp fuel price increases as the Iran war sends global oil prices surging and threatens to spark inflation across the continent.
African countries import most of their petroleum products, leaving many highly vulnerable to supply disruptions.
South Africa, one of the continent’s largest economies, on Tuesday reduced its fuel levy for one month to help curb further price rises in April, after trade unions and business groups pressured the government to intervene.
In Ghana, the National Petroleum Authority raised mandatory minimum price floors for the April 1–15 pricing window, pushing petrol prices up around 15 per cent to 13.30 cedis ($1.21) per litre (0.26 U.S. gallon) and diesel up roughly 19 per cent to 17.10 cedis.
President John Mahama said on Monday that the government was considering steps to cushion consumers, including reducing fuel margins and reviewing a recently imposed levy on petroleum products.
He also raised the prospect of a formal supply agreement with Nigeria’s Dangote refinery to secure alternative sources of refined petroleum. Ghana imports about 70 per cent of its refined fuel.
In Malawi, the Energy Regulatory Authority (MERA) imposed even steeper increases, raising petrol prices by 34 per cent to 6,672 kwacha ($3.89) per litre and diesel by 35 per cent to 6,687 kwacha yesterday.
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