Africa-Press – Lesotho. The latest escalation of the Israel war has unsettled global markets and raised the risk of higher energy and transport costs worldwide.
Public data compiled by International Petrol-Price Trackers put the retail gasoline price in Lesotho at about M19.65 per litre as of September 15, 2024 consistent with the recent monthly fuel-price reports published by the Lesotho Petroleum Fund.
For Lesotho, with its small economy, that imports almost all of its fuel and many consumer goods through South Africa (SA), even a modest rise in global oil prices quickly translates into higher pump prices, larger import bills and renewed downside risks to growth and fiscal stability.
SA’s official fuel breakdown, which directly impacts on Lesotho’s retail price due to the Loti being pegged to the Rand shows inland petrol prices around R21.47 per litre in the adjustment published for September.
According to the International Monetary Fund (IMF), higher pump prices feed through quickly into transport and food prices, directly hitting household budgets, particularly among the poor who spend a larger share of income on essentials.
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