South African motorists are complaining about record pump prices, Nigerian radio stations have warned that they will go off air because of the cost of diesel generators and airlines across the region are clubbing together to buy jet fuel.
Africa produces about 8 per cent of the world’s crude oil, but a lack of refining capacity means it imports almost all of its fuel. As a result, it has been the continent hardest hit by the turmoil in international markets triggered by the war in Ukraine and the partial European embargo on Russian crude.
The crisis has exposed “Africa’s vulnerability in terms of energy security”, said Anibor Kragha, executive secretary of the African Refiners and Distributors Association (ARDA), a trade body.
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