High oil prices are now feeding through to fuel and business costs in East Africa. Tanzania’s regulator raised its October cap prices on 7 October, lifting petrol in Dar es Salaam by 6.9% to 4,057 shillings a litre, while Uganda’s Stanbic purchasing managers’ index fell to 53.0 in September from 55.0 as firms reported higher fuel and transport costs. Kenya’s central bank said the same day that fuel imports had widened its current-account deficit to 3.1% of gross domestic product (GDP). Inland importers that buy refined diesel face the largest bills, while exporters of crude gain. IMF Managing Director Kristalina Georgieva warned on 7 October that high energy prices will likely persist even if the Gulf war ends soon.
Sources
- The Chanzo: https://thechanzo.com/2026/10/07/fuel-cap-rebound-pushes-dar-es-salaam-prices-above-sh4000
- The Guardian (IPP Media): https://ippmedia.co.tz/the-guardian/news/local-news/read/ewura-fuel-prices-showing-upward-push-2026-10-07-115636
- PML Daily: https://pmldaily.com/news/2026/10/ugandas-private-sector-growth-slows-in-september-as-costs-rise-stanbic-pmi-shows.html
- Central Bank of Kenya: https://www.centralbank.go.ke/2026/10/07/mpc-retains-the-cbr-at-8-75-percent-3/
- The Kenya Times: https://thekenyatimes.com/finance/cbk-announces-new-lending-rates-for-october-and-november/
- Kuwait Times (Reuters): https://kuwaittimes.com/article/51160/business/imf-chief-warns-energy-shock-threatens-fragile-global-growth/