๐จโฝ GLOBAL OIL DROPSโฆ BUT FUEL PRICES IN INDIA & KENYA STILL RISING ๐ณ
Brent crude fell to $98.45 (-4.9%) while WTI dropped to $91.36 (-5.4%) after progress in U.S.-Iran talks reduced fears around the Strait of Hormuz. ๐๐ข๏ธ
But consumers in ๐ฎ๐ณ India and ๐ฐ๐ช Kenya are seeing the opposite effect at the pump.
๐ Delhi petrol climbed to 102.12 INR/liter while diesel hit 95.20 INR after another round of hikes.
๐ Kenyaโs diesel prices already touched a record 242.92 KES/liter, with analysts expecting more increases ahead.
The disconnect is being driven by:
โข Weak local currencies ๐ฑ
โข Heavy fuel taxes ๐๏ธ
โข Import dependency ๐ข
โข Delayed pricing systems โณ
People are now questioning why global oil prices can fall sharply while transportation and living costs continue rising locally. ๐๐ธ
Markets move globally. Pain hits locally.
#oil #bnb #CryptoNews
Brent crude fell to $98.45 (-4.9%) while WTI dropped to $91.36 (-5.4%) after progress in U.S.-Iran talks reduced fears around the Strait of Hormuz. ๐๐ข๏ธ
But consumers in ๐ฎ๐ณ India and ๐ฐ๐ช Kenya are seeing the opposite effect at the pump.
๐ Delhi petrol climbed to 102.12 INR/liter while diesel hit 95.20 INR after another round of hikes.
๐ Kenyaโs diesel prices already touched a record 242.92 KES/liter, with analysts expecting more increases ahead.
The disconnect is being driven by:
โข Weak local currencies ๐ฑ
โข Heavy fuel taxes ๐๏ธ
โข Import dependency ๐ข
โข Delayed pricing systems โณ
People are now questioning why global oil prices can fall sharply while transportation and living costs continue rising locally. ๐๐ธ
Markets move globally. Pain hits locally.
#oil #bnb #CryptoNews