HARGEISA– Fuel Importing firms in Somaliland have hiked prices where consumers which are struggling with high standard of living also face the prospect of soaring fuel price.
According to local reports from Hargeisa showed that a barrel of petrol which used to cost of 135 dollars saw the unexpected rise to 150 US dollars. The petrol has risen sharply where 15 dollars has been added. At the same time diesel prices have increased from 130 US dollars to 146 dollars which saw the addition of 16 dollars in terms of previous price. Red Sea, Som Oil and Hass Petroleum have reached the decision which would have negative impact on local consumers in Somaliland. The new government led by Musa Bihi is facing a tough domestic challenges that need to be addressed as far as inflation and high cost of living are concerned.
The country imports fuel from Gulf countries including the UAE which has close bilateral ties with Somaliland.