Kenya hikes fuel prices to tame government costs
African economies have been left badly exposed because of their over-reliance on imported fuels.
The Kenyan government has recently increased fuel prices in an effort to control the rising government spending caused by the ongoing war in the Middle East. This shift has resulted in petrol and diesel prices being 20% and 31% higher than prewar levels, respectively. Consequently, this move has pushed inflation to its highest rate in almost three years, as reported by Semafor.
The price hike has sparked unrest across Africa, with motorists in Malawi reportedly sleeping at gas stations for days in anticipation of receiving fuel supplies. In South Africa, the soaring prices have led households to resort to using firewood, coal, and illegal electrical connections as alternative sources of energy, as stated by the Sowetan.
Brief written by urgent.news from Semafor's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
