- African countries have to put up with increasing oil import prices as a result of OPEC regulations
- According to OPEC estimates, government taxes are another factor contributing to the rising cost of petroleum
- A new report has identified Central Africa Republic, Senegal and others as top countries with the highest fuel cost across Africa
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
The price of crude oil globally is one of the primary determinants of fuel prices. Due to OPEC regulations, supply disruptions, geopolitical events, and shifts in global demand, African countries must endure higher oil import prices.
