African countries have adjusted fuel prices as high as about 81%, as Iran war grinds into more than a month.
The US-Israeli war on Iran has forced closure of the Strait of Hormuz through which most African countries source their oil.
From Wednesday, Malawi, the world’s poorest country after Burundi, raised jet fuel by as much as 81%.
East Africa’s Tanzania, Namibia, Zambia and South Africa also increased regulated prices from Wednesday.
With the soaring fuel prices African governments are rolling out subsidies and cutting taxes to help cushion households from an increase in energy costs triggered by the US-Israeli war on Iran.
The rise in crude prices and Mozambique’s position as a net importer of oil products is expected “to put pressure” on foreign exchange availability and create fuel shortages in the coming months, S&P said in March 27 rating update.
South Africa cut fuel taxes to cushion the blow that still resulted in a 15% rise in the retail price of 95-octane gasoline to 23.36 rand a liter and wholesale diesel going up 40% overnight.
Zambia zeroed out its value-added tax and suspended an excise duty on fuel imports to manage prices. It raised petrol by 2% and diesel 28% for April.



