Soaring fuel bills put pressure on Africa’s fragile economies
From the Financial Times, 29/12/2007When prices rise, it is the poor who suffer most. With this year’s surge in the oil price towards $100 a barrel the greatest threat is to the poorest counties - Africa.
- Electricity grids depend on diesel-powered generators: high fuel costs result in power cuts.
- Food transport over long distances in trucks pushes up the cost of food.
- Prices of important exports such as cocoa and gold have risen due to transport costs.
The shape of things to come for us too?
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