18 Jun 2018 | 09:38 AM UTC
Madagascar: Rise in fuel prices; protests possible published
Persistent increases in prices of fuel across the country likely to prompt protests
Event
The steady rise in fuel prices in Madagascar is likely to contribute to mounting tensions across the country. These price fluctuations are due to rising global oil prices along with the depreciation of the ariary (MGA). The government has warned that prices may continue to rise. Related protests and public transportation disruptions are likely in the coming days.
Context
In the past eight months, the ariary has fallen 9 percent compared to the US dollar. The price of gasoline is currently, as of mid-June 2018, at MGA 4050 (USD 1.19) per liter.
In recent years, state subsidies have offset soaring global prices. However, the Ministry of Hydrocarbons has announced that the government wants to intervene less in the market, indicating prices will likely continue to rise.
Advice
Individuals in Madagascar are advised to keep abreast of the situation and to avoid any protests.
