Somalia’s Fuel Prices Jump 77% as Middle East Crisis Deepens
Somalia fuel prices jump 77% in 72 hours as Middle East conflict disrupts supply
MOGADISHU, Somalia — Fuel prices in Somalia’s capital have surged about 77% within three days, an abrupt spike tied to the escalating Middle East conflict that is rattling energy markets and shipping lanes through the Red Sea and the Gulf of Aden.
Market observers in Mogadishu said the retail price of petrol jumped to about $1.15 per liter from roughly $0.65 earlier this week, with the steepest increases posted by Friday evening. The surge…