Transport, service and food prices are not reduced due to the absence of the state.
English - Saturday 04 April 2020 الساعة 04:49 pm
Aden, Newsyemen , private:
Prices of oil derivatives have fallen by 50% in the domestic market - the areas of control of the legitimate government - during the past ten days, driven by the decline in oil prices by 70 percent in the global market from its peak in January.
What is causing discontent among the Yemenis is the lack of response to the prices of transport, services and food in the local market to decline, with global oil prices falling, and fuel domestically, and it has retained its previous price levels, which were determined by high fuel prices.
Citizens are demanding a reduction in public transport fares, and the wages of trucks transporting goods in half, in response to the drop in fuel prices, blaming the authorities for not taking any measures, and not caring for the citizen's livelihood.
Economists believe that the services that use diesel and oil have decreased the cost of their operational and productive elements by 40% due to the drop in fuel prices and demanded the competent authorities to do their part and protect the consumer as they protect service providers when prices rise.
The prices of transportation and services in the local market have witnessed inflation rates, exceeding 100% of their previous prices, before the liberalization of oil derivative prices, due to the high prices of oil derivatives. Since the liberalization of oil derivative prices, on the local market, prices have been subject to the global stock exchange.
The United Nations Food and Agriculture Organization (FAO) said on Thursday that world food prices fell sharply in March, and the FAO Food Price Index, which measures monthly changes to a basket of grains, vegetable oils, dairy products, meat and sugar, fell 4.3 percent in March compared to February. .
The FAO Sugar Price Index recorded the largest decline, dropping 19.1 percent, vegetable oil prices 12 percent and cereals 1.9 percent from the previous month. This decrease is due to the decline in consumption due to the damage affected by demand linked to the outbreak of the Coronavirus, and the recent drop in crude oil prices.
The demand for crude oil has witnessed a sharp decline in the global market, due to the Coronavirus pandemic, and the subsequent oil price war in which Saudi Arabia and Russia embarked on submerging the market in a battle over market shares following the collapse of their agreement to restrict supplies.
