Fuel subsidies Does the steep drop in oil prices provide a rare opportunity to reform fuel subsidies? As oil prices plunge, Africa’s hydrocarbon producers have hit troubled waters, with their revenues and currencies sinking. Yet the drop is largely good news for net oil importers, which include most of the continent’s economies. Even emerging oil producers are reaping benefits. Stocks rose by 22% in Tanzania, 18% in Uganda and 9.4% in Kenya last year as lower fuel import costs kept inflation down, according to Bloomberg. Over the last ten months, the price of oil has fallen steeply, with major implications…
