Fuel Station Survey Report April 2020

Aug 06, 2020

In light of the present COVID-19 pandemic, Somaliland’s Ministry of Trade, Industry and Tourism (MoTIT) has taken the initiative to monitor the evolution of fuel retail prices and exchange rates. The price of fuel in international markets has plunged in the past few months due to the virus-driven global crisis. Somaliland is dependent on fuel imports for energy supply, and the decrease in global fuel prices is likely to impact the country’s economy and employment. Consequently, it is essential to pay close attention to how changes in global fuel prices affect Somaliland’s economy. In addition to prices, the MoTIT considered relevant to analyse the exchange rates used by fuel retailers.