COTONOU, March 31 (Xinhua) -- Though thousands of kilometers away from the Middle East, where conflicts involving Iran, the United States and Israel have claimed lives and devastated local economies, Benin is increasingly feeling the ripple effects, most notably through rising fuel prices.
"Before this conflict, we imported a 25-liter jerrycan of gasoline from Nigeria for 12,000 CFA francs (about 20.97 U.S. dollars), allowing us to sell it at 500 CFA francs per liter on the informal market in Benin," Prospere Koffi, an importer of fuel in Benin, told Xinhua on Tuesday.
Since the onset of the conflict, however, the same volume now sells for between 18,000 and 20,000 CFA francs, according to Koffi.
"Under these conditions, we have no choice but to resell a liter at 800 CFA francs, or even 1,000 CFA francs in some parts of the country," he said.
Meanwhile, the price of gasoline at official service stations in Benin has remained unchanged at 695 CFA francs per liter since Jan. 1, 2025, despite the current situation, Koffi added.
"This price is set by the government, which regularly subsidizes petroleum products to limit the impact of international price fluctuations, particularly in relation to prices in Nigeria," Benin's Ministry of Industry and Trade said in a recent statement.
For consumers, especially motorcycle taxi drivers, fuel remains relatively cheaper at official stations than on the informal market, but supply shortages persist.
"The product is not available in sufficient quantities at state-run service stations. Long queues form for hours before getting just a few liters, and this is not the case at all stations. Those located on the outskirts of Cotonou and surrounding areas are not adequately supplied to meet the high demand," said Patrick Gbeho, a motorcycle taxi driver in the country's largest city.
For many Beninese, the surge in informal fuel prices is eroding household purchasing power.
"The recent rise in gasoline prices in the informal sector has also led to increases in transport costs and in the prices of basic goods, particularly imported rice," consumers said.
Beninese economist Modeste Tamassezodo told Xinhua that the sharp rise in global oil prices is largely linked to geopolitical tensions in the Middle East and Ukraine.
"Strikes in producing regions, such as the Middle East, and threats to energy infrastructure are heightening market risks," he said, adding that risks to key maritime routes, such as the Strait of Hormuz, are disrupting transport and driving up prices.
According to Benin's Ministry of Foreign Affairs, the West African country is closely monitoring developments in the Middle East and their implications.
"The government's priority is the safety and well-being of Beninese nationals wherever they may be. Since the onset of the conflict, the Ministry of Foreign Affairs has instructed Benin's embassies accredited to Kuwait, Qatar and Saudi Arabia, which cover the region, as well as honorary consulates under their jurisdiction (in Israel, Lebanon and Yemen), to strengthen communication mechanisms with compatriots residing in or passing through the region," the ministry said.
It also urged citizens, regardless of their status, to exercise the utmost vigilance, strictly comply with preventive and protective measures implemented by authorities in their host countries, and avoid all non-essential travel. ■
