Gas Stations Brace for Price Surge as Fed Scales Back Subsidies
The federal government announced a rise in retail fuel prices, adjusting a litre of benzene to 91 Br and diesel to 90 Br.
Retail fuel prices have surged dramatically over the past five years, driven by global market dynamics, domestic economic reforms, and currency depreciation. The gradual elimination of government fuel subsidies, a policy encouraged by international lenders, has shifted the financial burden onto consumers. Diesel prices have climbed sharply due to global supply disruptions and a weakening Birr, creating a volatile market environment that has elevated transportation and pr...