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Originally published by Capital Business
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business
March 13, 2026
13h ago

Ethiopians feel pinch of rising oil prices due to Mideast conflict

Ethiopians feel pinch of rising oil prices due to Mideast conflict

Tasew Tesfaye, who drives buses that cross Ethiopian cities, said soaring fuel prices impact transport services, particularly in the countryside. Kenya breaking news | Kenya news today |..

✨ Key Highlights

Ethiopia is grappling with escalating oil prices, directly exacerbated by the ongoing conflict in the Middle East and the resultant near-complete closure of the Strait of Hormuz.

  • Fuel prices have significantly increased, disproportionately impacting rural areas where petrol station operators are accused of hoarding and black market sales.
  • Finance Minister Ahmed Shide acknowledged the "frightening" surge and urged judicious fuel use, while detailing government efforts to ensure supply and combat illegal trading.
  • Despite the economic pressure and disrupted supply chains, an energy expert suggests the long-term impact on Ethiopia might be lessened by its shift towards electric vehicles, encouraged by recent import policy changes.

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