Retail fuels in brief: could high oil prices end fuel subsidies in Africa? Report

Insight 20 October 2022

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Report summary

Consumers across Africa, particularly those in oil import-dependent nations, continue to grapple with a high cost of living and rising fuel prices on the back of elevated crude prices. Soaring prices not only pose a challenge to the governments' popularity but also increase structural inflation. In our report, we look at the different policies some of the major African countries introduced to limit the impact of record-high fuel prices on consumers.

Increased government spending on subsidies and temporary tax cuts
- Subsidy cuts to curb government spending leads to retail fuel price rises
- Government intervention to protect consumers is shortlived and proves costly
Conclusion