By Rédaction Africa Links 24 with Mimi Mefo Info (Editor)
Published on 2024-02-03 09:40:12
The Cameroon Government has fulfilled its promise to increase fuel prices, worsening the already dire economic situation for citizens.
In a release on February 2, the government announced that the cost of petrol will surge from FCFA 730 to FCFA 840 starting from February 3, 2024.
This surge marks an absolute increase of FCFA 110 in the price of petrol and a relative increase of 15%.
This decision comes just a month after President Paul Biya hinted at discontinuing fuel subsidies during his end-of-year speech on December 31, 2023.
Fuel subsidies reportedly cost Cameroon approximately FCFA 640 billion (about 1 billion dollars) in 2023, down from over FCFA 1,000 billion (approximately 1.7 billion dollars) in 2022.
Biya acknowledged the necessity of these adjustments but pledged to ensure they do not significantly impact the purchasing power of households.
However, this move adds to the challenges faced by ordinary Cameroonians, as the prices of fuel, cooking oil, wheat, building materials, and other essential commodities have been steadily rising since the outbreak of the Ukraine war in 2022.
By the end of September 2023, Cameroon experienced an annual average inflation rate of 7.8%.
The National Institute of Statistics attributed this increase to rising food prices and transport costs, with inflation rates reaching 12.8% and 11.5%, respectively.
The fuel price hike is expected to trigger a cascade effect, leading to increased transportation fares and, consequently, higher prices for basic commodities.
This development has prompted concerns among citizens, with the government anticipating potential strikes and protests.
In response, government officials stated that they would engage in ongoing dialogues with consumer association representatives to mitigate the impact on household purchasing power.
Cameroonians have expressed their frustration and helplessness in the face of these measures. Sentiments of disappointment and disillusionment are evident in their reactions.
Some citizens emphasized the enduring struggles of many citizens and the resilience of those who cling to hope for a better future.
Others voiced a sense of disenchantment, stating that Cameroon is no longer interesting and suggesting that people are merely enduring their circumstances due to being born into them.
Overall, the fuel price hike has sparked frustration and disappointment among Cameroonians, potentially leading to protests and strikes.
Read the original article(French) on Mimi Mefo Info
