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The Ethiopian Ministry of Trade and Regional Integration announced a revision on prices for fuel, starting from May 8, 2022, following the global surge in fuel prices. With the increase, benzene would now cost US $1,028 per metric ton while diesel costs US $1,138 per metric ton. They are up from US$870 and US$730, respectively, just a month ago
The Ethiopian Ministry of Trade and Regional Integration announced a revision on prices for fuel, starting from May 8, 2022, following the global surge in fuel prices. With the increase, benzene would now cost the US $1,028 per metric ton while diesel costs the US $1,138 per metric ton. They are up from US$870 and US$730, respectively, just a month ago.
The surge in fuel prices has created an added burden to the government, to the tune of US$10 billion on the fuel price stabilization fund.
Analysts maintain that the price would rule high for quite some time since there is no respite on the upward movement of the hydrocarbon prices. The ongoing Russian-Ukraine war has cast shadows on the fuel prices, affecting most countries. Ethiopia being an oil-importing country, has to bear the brunt of the fuel price hike, more than any other country.
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https://trendsnafrica.com/
In 2020, Ethiopia imported US$1.24 billion in Refined Petroleum, becoming the 71st largest importer of Refined Petroleum in the world. In the same year, Refined Petroleum was the 1st most imported product in Ethiopia. Ethiopia imports Refined Petroleum primarily from: Kuwait ($529M), United Arab Emirates ($253M), Singapore ($220M), Saudi Arabia ($133M), and China ($27.6M). There is a small export of fuel from Ethiopia. In 2020, Ethiopia exported $114k in Refined Petroleum, making it the 171st largest exporter of Refined Petroleum in the world. In the same year, Refined Petroleum was the 296th most exported product in Ethiopia. The main destination of Refined Petroleum exports from Ethiopia is Sudan ($113k), Australia ($710), Kenya ($689), and Nigeria ($217).
