Fuel shortages in Ethiopia deepen as prices increase

Bloomberg fuel shortages at pump stations in Ethiopia worsened this week with motorists in Addis Ababa waiting as long as eight hours to refill.

None of the US wants a Dutch supplier to stop selling Chipmaking Gear to China.

The price of diesel is going to get worse as the government decides to stop subsidizing fuel on Tuesday. Commuters were seen waiting for hours before they could get rides. Long queues around gas stations in Addis Ababa and other cities around the country were formed by vehicles.

I have never seen such a shortage of diesel before, said Kafiya Seid, a driver in Addis Ababa. She waited five hours before she got a chance to refill. There was almost no station in the city that was selling diesel. Fuel crises are spreading in several African countries after Russia has invaded Ukraine following the invasion of Ukraine. Transporters in Mozambique ended a rare protest after the government pledged to subsidize fares. There are shortages in Ghana as the central bank rations dollars needed to import the commodity.

The price of diesel in Ethiopia increased by 38% to 49.02 birr 0.9 a liter, while the price of benzene went up 30% to 47.83, the trade ministry said in a statement. The government plans to remove fuel subsidies from the country within a year, according to the statement. The new prices are going to be in effect for a month, starting this week.

The crisis in the Horn of Africa country, which faces a shortage of foreign currency, has been exacerbated by marketers hoarding the product in anticipation of higher prices, according to Tadesse Hailemariam, chief executive officer of the Ethiopian Petroleum Supply Enterprise.

The fuel shortage is another challenge for Ethiopia's Prime Minister Abiy Ahmed, who last month began an offensive against rebels accused of killing civilians in the west of the country, and is dealing with recent clashes around the border with Sudan. Since November 2020, the dissidents in the northern Tigray region fought Abiy's government until a truce was declared in March this year.

None of the Gangs Are Fake-Killing People in India for Insurance Payouts