Context: Petrol has become costlier by 4% and diesel by 5% over the last 18 days, with oil retailers revising pump prices.
The paradoxical trend in fuel price:
Issues associated with high fuel prices:
Way Forward:
Conclusion: Government must strike a balance as raising taxes on fuels pushes up retail prices and puts a squeeze on the real consumption of fixed income earners, in a year seeing a rise in poverty and job losses.