Fuel prices are rising sharply in South Africa, Tanzania and the United Kingdom as conflict in the Middle East and disruptions to global oil supplies drive up the cost of petroleum products, according to international media reports.
For instance, Brent crude oil prices have climbed from $87.89 to $101.13 a barrel, adding to pressure on countries that depend on imported fuel.
In South Africa, the country’s biggest-ever fuel price increase took effect on Wednesday this week.
The Department of Mineral Resources and Energy attributed the increases to tensions between the United States and Iran, a weaker rand trading at R16.21 to the US dollar, and higher shipping costs.
With 60 percent of its fuel imported and its slate account reportedly showing a deficit of R10.4 billion, South Africa passed the full cost increases on to consumers.
In Tanzania, the Energy and Water Utilities Regulatory Authority (EWURA) raised petrol prices in Dar es Salaam by 261 Tanzanian shillings to TSh4,057 per litre, while diesel increased by TSh209 to TSh4,086 per litre.
The regulator cited disruptions to global oil supplies linked to the conflict in the Middle East.
Meanwhile, diesel prices in the United Kingdom have crossed £2 per litre for the first time, reaching 200.01 pence, while petrol has risen to 174.71 pence per litre.
The motoring organisation RAC said the increases show “no signs of slowing.”
The pressure on global fuel markets comes amid conflict involving Iran, Ukrainian attacks on Russian oil refineries, a drone strike targeting Saudi Aramco’s pipeline infrastructure, and restrictions on Chinese fuel exports, all contributing to concerns about global supplies.
In response, G7 nations reportedly agreed on Friday to release 100 million barrels of oil from strategic reserves, following US President Donald Trump’s threat to ban American diesel exports.
By Charles Chindongo
