Energy consultant Dr Yusuf Suleman is expecting the government to address the issue of the cost of fuel in the country in the mid-year budget presentation.
The price of petrol and diesel in the country has doubled since the start of the year a situation that has left to an increase in transport fares and by extension the rate of inflation Dr Yusuf Suleman believes that government must introduce stringent measures to manage the situation in order to stabilize the economy.
” The cost of energy is skyrocketing and its due to the fact that we haven’t had crude oil prices in ranges that will make it easy for the fuel prices to come down. crude oil prices are within the three digit figure and there is no indication that it will come down anytime soon. That calls for the fact that the downstream will always get hotter and hotter.
It’s in recent times that the crude oil price is coming down. What I expect this budget to encapsulate is to bring forward several innovation of cooling down the pumps and this is not out of ordinary.
Economies all over the world are thinking about ways of lessening the burden on the consumer,” He said.
Story by Matilda Youpele
