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Somalia’s Economic Woes Intensify Amid Iran Conflict-Driven Energy Crisis

The Iran war has sent shockwaves through Somalia’s economy, with skyrocketing fuel costs crippling businesses in Mogadishu. For Abdullah Yusuf, a tuk-tuk driver, the situation is dire, as fuel prices have skyrocketed from approximately 62-65 cents per litre to $1.50, a more than twofold increase. Yusuf expressed his concerns, stating that he and his customers are struggling to cope with the rising costs. As Somalia relies heavily on imported fuel, the country is particularly vulnerable to fluctuations in global energy prices. The crisis is also affecting aid distribution, where millions of internally displaced individuals rely on timely assistance. Ismael Abdullahi Siyad, a local fuel supplier, noted that despite having a six-month reserve, he remains anxious about the situation, particularly during the dry season when fuel demand surges.

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