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The Independent UK
The Independent UK
National
Allan Olingo

Iran war sends shockwaves through African fuel market and economies

Africa Iran War Economy - (Copyright 2024 The Associated Press. All rights reserved)

Surging oil prices triggered by the war with Iran are rippling across African economies, threatening higher fuel costs, rising inflation and renewed pressure on currencies across the continent.

Africa imports most of the petroleum products it consumes, leaving many economies highly vulnerable to supply disruptions tied to tensions in the Middle East, a region central to global oil flows.

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