Ethiopia taking measures to address fuel crisis

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Women stand among a queue of cars in a gas station in the city of Addis Ababa, Ethiopia, June 23, 2022. /CFP

Ethiopia is taking steps to ease a fuel crisis triggered by tensions in the Middle East, a senior official said.

Finance Minister Ahmed Shide said the government has increased subsidies to keep fuel supplies stable and affordable.

He added that Ethiopia is making additional fuel purchases to avoid shortages after the closure of the Strait of Hormuz.

Authorities have also launched a nationwide crackdown on illegal fuel trading, targeting those selling petroleum products outside official supply chains or above the regulated price.

The move follows a fuel price adjustment announced on Tuesday, with the government saying the new prices remain heavily subsidized and lower than international market levels.

Ethiopia relies entirely on imported petroleum products, making its fuel supply highly sensitive to global market changes.

Source(s): Xinhua News Agency

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Ethiopia taking measures to address fuel crisis amid Middle East tensions