Survey of Fuel Retail Prices and Exchange Rates in Hargeisa

In light of the present COVID-19 crisis, 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 months due to the virus-driven 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 the change in global fuel prices affects Somaliland’s economy. In addition to prices, the MoTIT considered relevant to analyse the exchange rates applied by fuel retailers.