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Tanzania: Deputy Energy Minister Urges TANESCO To Strengthen Customer Service Through Digital Systems

Michael Creg Afful
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Tanzania: Deputy Energy Minister Urges TANESCO To Strengthen Customer Service Through Digital Systems
  • Deputy Minister urges TANESCO to adopt digital systems for better customer service.
  •  Meeting addresses performance, challenges, and strategic communication.
  • Calls for improved benefits to motivate frontline service providers.

Tanzanian Deputy Minister for Energy, Hon. Salome Makamba, has urged Tanzania Electricity Corporation (TANESCO) customer relations and service officers to effectively use digital systems and intelligence to keep pace with technological growth and enhance the efficiency of customer service and communication.

She delivered the advice on Monday, May 18, 2026, during the opening of the five-day Annual General Meeting (AGM) of TANESCO officers at the Lavender Hotel in Dodoma. The AGM aims to assess work performance, identify challenges, discuss strategies to improve customer service, and strengthen strategic communication within the organization for 2026. “We all recognize that technology is the foundation of modern service delivery. Therefore, it is the responsibility of Customer Service Officers to ensure digital systems, including smart intelligence, are used efficiently so that citizens receive quality services and timely information,” Hon. Salome Makamba said. According to her, the government recognizes the sincere efforts being made by TANESCO to improve customer service and strategic communication through the use of social media, WhatsApp groups, and education on the safe use of electricity and clean cooking energy. She also urged TANESCO management to improve incentives for customer service providers to increase their motivation and efficiency, noting that these frontline staff plays a key role in building the organization’s image with customers. “On behalf of the Ministry leadership, I congratulate the service providers for your dedication. I also request the TANESCO CEO to oversee the improvement of their benefits so that they can provide quality and reliable services to customers,” Hon. Makamba added.    

Kenya: EPRA Cuts Diesel Price By KSh10.06, Hikes Kerosene By KSh38.60 Per Litre After Nationwide Protests

Michael Creg Afful
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Kenya: EPRA Cuts Diesel Price By KSh10.06, Hikes Kerosene By KSh38.60 Per Litre After Nationwide Protests
Kenya’s Energy and Petroleum Regulatory Authority (EPRA) has reviewed diesel pump prices downward by KSh10.06 per litre, while the price of kerosene has increased by KSh38.60 per litre.

However, the pump price for Super Petrol remains unchanged.

In Nairobi, Super Petrol, Diesel, and Kerosene will now retail at KSh214.25, KSh232.86, and KSh191.38 respectively, effective Tuesday, May 19, 2026, for the next 30 days.

The review follows Monday’s nationwide protests by public service vehicle (PSV) operators against rising fuel costs, which resulted in the deaths of four people, injuries to 30 others, and the arrest of 348 individuals.

In a statement, EPRA said it had received a petition from public transport sector operators requesting measures to minimize the risk of motor fuel adulteration that may arise due to the wide price differential between diesel and kerosene.

     

Commercial Oil Inventories Depleting Rapidly, With Only Weeks Left, Says IEA Chief

Michael Creg Afful
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Commercial Oil Inventories Depleting Rapidly, With Only Weeks Left, Says IEA Chief
The Executive Director of the International Energy Agency (IEA), Fatih Birol, has revealed that commercial oil inventories are depleting rapidly, with only a few weeks’ worth of supply left due to the Iran war and the closure of the Strait of Hormuz to shipping. According to reports, Birol told reporters on Monday during the Group of Seven finance leaders’ meeting in Paris that the release of strategic oil reserves had added 2.5 million barrels of oil per day to the market, but noted that these reserves “are not endless.” Birol added that the onset of the spring planting and summer travel seasons in the Northern Hemisphere would drain inventories more quickly as demand for diesel, fertilizer, jet fuel, and gasoline increases. He said that before the United States and Israel launched attacks on Iran at the end of February, there was a major surplus in the oil market and commercial inventories were very high. However, the situation has rapidly shifted due to the war. He stated that commercial inventories would last “several weeks, but we should be aware of the fact that they are declining rapidly.” Kenya:Four Killed, 30 Injured, And 348 Arrested During Nationwide Protest Over High Fuel Prices Last week, the IEA said global oil supply will fall short of total demand this year as the Iran conflict disrupts Middle East oil production, with inventories being drained at an unprecedented pace. The agency had previously forecast a surplus for the year. Global observed oil inventories fell at a record pace in March and April, dropping by 246 million barrels, the IEA said in its latest monthly oil market report. The 32-member IEA coordinated the largest-ever release of stocks from strategic reserves in March, agreeing to withdraw 400 million barrels in a bid to calm markets. Around 164 million barrels had been released by May 8, it said. Overall, global oil supply is expected to fall by around 3.9 million barrels per day in 2026 due to the war, the agency said, sharply revising its previous forecast, which had projected a 1.5 million bpd decline.  

Kenya:Four Killed, 30 Injured, And 348 Arrested During Nationwide Protest Over High Fuel Prices

Michael Creg Afful
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Kenya:Four Killed, 30 Injured, And 348 Arrested During Nationwide Protest Over High Fuel Prices
Four protesters were killed on Monday during a nationwide demonstration sparked by high fuel costs in Kenya, with 30 others sustaining varying degrees of injuries, Interior Cabinet Secretary Kipchumba Murkomen confirmed during a press briefing. According to the CS, 348 individuals were arrested for various offences, including destruction of property, unlawful assembly, and attacks on law enforcement officers. He said investigations are ongoing and those found responsible for criminal acts during the protests will be arraigned in court. “The government respects the constitutional right to peaceful assembly, but acts of violence, looting, and destruction of property will not be tolerated,” Murkomen said. The demonstrations were organized in response to public anger over high fuel costs, which have increased transport costs and pushed up the prices of basic commodities across the country. Protesters in several major towns blocked roads, lit bonfires, and demanded immediate government action to reduce fuel prices and ease the economic burden on ordinary Kenyans. CS Murkomen appealed to Kenyans to remain peaceful and allow the government to address concerns through lawful and constructive engagement. He reiterated that security agencies will continue to maintain order while safeguarding citizens’ constitutional rights.

Ghana: Energy Commission Urges More Women To Join Electrical Wiring Profession

Michael Creg Afful
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Ghana: Energy Commission Urges More Women To Join Electrical Wiring Profession
Ghana’s Energy Commission, the technical regulator for electricity and natural gas, has called for a deliberate push to increase female participation in Ghana’s electrical wiring profession, describing the sector as still heavily male-dominated. Deputy Executive Secretary of the Commission, Mr. Chris Nanabanyin Yalley, made the call during an official visit to the Accra Technical Training Centre (ATTC), where he observed the ongoing May/June 2026 Electrical Wiring Professionals Examination being conducted nationwide by the Commission. The visit was part of the Commission’s commitment to ensuring quality, professionalism, and integrity in the electrical wiring certification process. During the visit, Mr. Yalley toured both the interview and practical examination sessions, gaining firsthand experience of the examination procedures and interacting with candidates and officials overseeing the exercise. Addressing those present, he highlighted a female electrician apprentice support programme championed by the Acting Executive Secretary of the Energy Commission, Ms. Adwoa Serwaa Bonzie, which aims to encourage and support more women to pursue careers in electrical installation and related technical fields. He noted that the low number of female candidates participating in the current examinations at the Accra centre underscores the urgency for targeted interventions. Mr. Yalley called on corporate institutions, development partners, and industry stakeholders to collaborate with the Commission by sponsoring female electrician apprentices through training and certification programmes. He stressed that increasing female representation in the electrical industry would not only promote inclusivity and gender empowerment but also contribute to national skills development and the growth of Ghana’s energy sector. The Electrical Wiring Professionals Examination is being conducted simultaneously at four centres across the country—Accra, Takoradi, Kumasi, and Tamale—as part of the Energy Commission’s mandate to uphold professional competence, safety standards, and excellence within Ghana’s electrical wiring industry.

Egypt: TotalEnergies And EGAS Sig MoU For Offshore Exploration

Michael Creg Afful
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Egypt: TotalEnergies And EGAS Sig MoU For Offshore Exploration

TotalEnergies and the Egyptian Natural Gas Holding Company (EGAS) have signed a Memorandum of Understanding (MoU) to collaborate on offshore exploration activities.

The MoU covers a large area located in the northwestern offshore region of Egypt.

Nigeria: Dangote Refinery Files Fresh Lawsuit Against Government, Regulator Over Fuel Import Licences

The agreement establishes a framework for technical cooperation, including preliminary exploration and subsurface evaluation activities.

“We are pleased to launch this cooperation with EGAS, which reflects our shared ambition to further strengthen our partnership with the Arab Republic of Egypt. This agreement will support the assessment of Egypt’s deep offshore exploration potential,” said Nicola Mavilla, Senior Vice President of Exploration at TotalEnergies.

Zambia: ZESCO, Stanbic Bank, And GreenCo Sign MoU To Advance Renewable Energy Projects Under ZAMWATT Initiative

Michael Creg Afful
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Zambia: ZESCO, Stanbic Bank, And GreenCo Sign MoU To Advance Renewable Energy Projects Under ZAMWATT Initiative
Zambia’s power utility company, ZESCO Limited, Stanbic Bank Zambia, and GreenCo Power Services Limited have officially signed a Memorandum of Understanding (MoU) to jointly develop and implement a portfolio of renewable energy projects under the brand name “ZAMWATT.”

The signing of the MoU marks a significant milestone in Zambia’s journey towards a more sustainable, secure, and diversified energy future.

The partnership represents a major step forward in advancing sustainable energy solutions within Zambia’s energy sector, with a strong focus on strengthening energy security, promoting renewable energy investment, and supporting the country’s long-term development and clean energy transition agenda.

Ghana: Petrol Relief Scrapped, Diesel Support Cut To GH¢1.07 Amid Rising Fuel Costs

Speaking during the signing ceremony at Stanbic’s Head Office, ZESCO Limited Acting Managing Director, Eng. Francis Namakanda, said the agreement reflects a shared commitment to transforming Zambia’s energy sector through innovation, collaboration, and sustainable development.

He noted that the partnership will unlock new investment opportunities, accelerate renewable energy deployment, and strengthen infrastructure development across the country.

The Chief Executive Officer of Stanbic Bank Zambia, Mwindwa Siakalima, highlighted that the partnership demonstrates the bank’s continued commitment to financing impactful and sustainable projects that contribute to Zambia’s economic transformation. He added that the ZAMWATT initiative aligns with Stanbic Bank’s vision of driving inclusive growth, infrastructure development, and environmental sustainability.

GreenCo Power Services Limited Chief Executive Officer, Wezi Gondwe, said the collaboration marks an important step in advancing market-based renewable energy solutions in Zambia and the wider region. He emphasized GreenCo’s commitment to supporting innovative energy trading systems and facilitating private sector participation in clean energy development.

Representing the Minister of Energy, Director in the Ministry of Energy, Mr. Sivena Kambenja, welcomed the partnership, describing it as a timely intervention aligned with the government’s vision to expand access to clean, reliable, and affordable energy, while strengthening collaboration across the energy sector

Kenya: Bonfires, Roadblocks As Fuel Price Hike Sparks Protests

Michael Creg Afful
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Kenya: Bonfires, Roadblocks As Fuel Price Hike Sparks Protests
Hundreds of Kenyans took to the streets on Monday to protest the recent increase in fuel prices across the country. A section of public transport operators has joined the protest, leaving many workers stranded along roads and at transport stations. In some areas, protesters have set bonfires and blocked roads to express their anger over the fuel price hikes announced last Friday by the Energy and Petroleum Regulatory Authority (EPRA). Videos shared by Citizen TV Kenya showed instances where protesters turned empty roads into football parks and pitches. Key roads in the capital Nairobi remained largely empty, forcing some commuters to walk to work, with other parts of the country also affected by the transport crisis. Businesses in parts of Nairobi remained shut and schools asked students to stay at home. Kenya: Energy Cabinet Secretary Explains Fuel Price Hike Amid Public Concern EPRA recently increased petrol prices by KShs16.65 per litre and diesel prices by KShs46.29 per litre, while the price of kerosene remained unchanged. The hike has triggered public concern, with many citizens calling for its withdrawal. Opiyo Wandayi and other government officials have justified the increment, citing ongoing Middle East tensions as the cause of the fuel price hikes. Fuel prices are reviewed on the 14th of every month.      

Kenya: Energy Cabinet Secretary Explains Fuel Price Hike Amid Public Concern

Michael Creg Afful
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Kenya: Energy Cabinet Secretary Explains Fuel Price Hike Amid Public Concern
The Kenyan government has attributed the rise in pump fuel prices to volatility in the global oil market driven by the ongoing conflict in the Middle East. Fuel prices surged on Friday, with motorists in Nairobi now paying Ksh.214.25 per litre for Super Petrol and Ksh.242.92 for Diesel after the Energy and Petroleum Regulatory Authority (EPRA) increased prices by Ksh.16.65 and Ksh.46.29 respectively, while Kerosene remained unchanged at Ksh.152.78 per litre. The hike has triggered public concern, with sections of Kenyans worried that the increase has come at the wrong time, as families are already struggling with high taxes and the rising cost of basic commodities. However, in a statement issued on Friday, Energy Cabinet Secretary Opiyo Wandayi addressed public concerns, noting that geopolitical tensions have disrupted global energy supply chains and increased the cost of importing petroleum products. According to Wandayi, Kenya, as a net importer of petroleum products, remains exposed to external market shocks, including rising crude oil prices, elevated freight charges, and uncertainty in global supply. “Consequently, the prices of Super Petrol and Diesel have been adjusted in line with prevailing global market conditions, exchange rate pressures, and increased supply chain costs,” the ministry said. Wandayi explained that the average landed cost of imported Super Petrol rose from USD 823.27 per metric tonne in March to USD 906.23 in April, representing a 10 per cent increase. Diesel recorded the highest jump, increasing by 20.32 per cent from USD 1,073.82 per metric tonne to USD 1,291.98 over the same period. Kerosene increased marginally by 1.59 per cent, from USD 1,311.93 per metric tonne to USD 1,332.73. However, the government said it had maintained Kerosene prices at current levels to cushion vulnerable households that rely on the commodity for domestic use. The government further noted that insurance premiums had increased significantly due to tensions around the Strait of Hormuz, further compounding global petroleum import costs. According to the ministry, Kenya continues to benefit from fixed freight and premium costs negotiated under the government-to-government (G-to-G) arrangement for refined petroleum imports. To ease the impact of rising global fuel prices, the government said it had utilised the Petroleum Development Levy (PDL) stabilisation mechanism, applying approximately Ksh.5 billion to cushion Diesel and Kerosene prices during the current review cycle. The ministry also defended the government-to-government fuel importation framework, saying it had shielded Kenya from surging global freight and premium charges. “Currently, global spot freight and premium rates for petroleum cargoes have more than doubled, exposing countries reliant on spot purchases to very high escalations in landed costs,” the statement read. The ministry assured Kenyans that the country currently has adequate fuel stocks and that the government is closely monitoring developments in the international oil market. It added that consultations are ongoing with stakeholders in the transport, manufacturing, energy, and business sectors to identify measures aimed at reducing the impact of rising fuel prices on consumers. “The Government remains steadfast in its commitment to delivering reliable, accessible, and affordable energy in support of economic growth, job creation, and improved livelihoods for all Kenyans,” said Wandayi.  

Ghana: Petrol Relief Scrapped, Diesel Support Cut To GH¢1.07 Amid Rising Fuel Costs

Michael Creg Afful
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Ghana: Petrol Relief Scrapped, Diesel Support Cut To GH¢1.07 Amid Rising Fuel Costs
The Government of Ghana has revised its recent measures aimed at cushioning motorists against soaring pump prices by scrapping the 36-pesewa relief on petrol and reducing the GH¢2 relief on diesel to GH¢1.07 for the second pricing window, effective May 16. A statement from the Ministry of Energy and Green Transition, signed by Richmond Rockson Esq. on Friday, confirmed that the decision was taken after a Cabinet meeting chaired by President John Dramani Mahama, which reviewed developments in the international oil market and the impact of global price volatility on domestic fuel costs. The new measure is expected to run for two pricing windows, subject to further review based on market conditions. The government says it will continue to monitor global market trends and adjust its policy response accordingly to balance fiscal sustainability with consumer protection. This latest development is expected to push pump prices upwards. Already, petrol, diesel, and LPG price floors published by the petroleum downstream regulator, the National Petroleum Authority (NPA), show marginal increases in pump prices, with petrol pegged at GH¢14.60 per litre, diesel at GH¢15.81 per litre, and LPG at GH¢13.16 per kilogram. This compares with the first pricing window of May, when petrol sold at a floor price of GH¢13.25 per litre, diesel at GH¢14.30 per litre, and LPG at GH¢13.02 per kilogram. The changes indicate that petrol price floors increased by GH¢1.35 per litre. Diesel recorded the highest increase, rising by GH¢1.51 per litre. Ghana: NPA, Western Naval Command Burn Boat Used For Fuel Smuggling LPG price floors also went up by 14 pesewas per kilogram for the second pricing window of May. The NPA explained that the price floors exclude premiums charged by international oil trading companies, operating margins of bulk import, distribution, and export companies, as well as marketers’ and dealers’ margins. Under the Petroleum Products Pricing Guidelines, oil marketing companies and LPG marketing companies are required to comply with the approved price floors for the pricing window under consideration. The price floor is the minimum benchmark price set by the National Petroleum Authority for fuel products during a specific pricing window. 

Nigeria: Dangote Refinery Files Fresh Lawsuit Against Government, Regulator Over Fuel Import Licences

Michael Creg Afful
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Nigeria: Dangote Refinery Files Fresh Lawsuit Against Government, Regulator Over Fuel Import Licences
Nigeria-based Dangote Petroleum Refinery, Africa’s largest petroleum refinery, has filed a fresh lawsuit against the Nigerian government and the country’s downstream regulator in a renewed effort to challenge fuel import licences issued to petroleum marketers and the state-owned Nigerian National Petroleum Company. The refinery alleges that these licences violate a prior court order and undermine its operations, arguing that domestic refining capacity now exists. Despite expectations that Dangote Petroleum Refinery would reduce Nigeria’s reliance on fuel imports, the country continues to import fuel due to the refinery’s gradual production ramp-up. Dangote Refinery is asking the Federal High Court in Lagos to set aside import permits issued or renewed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), arguing that they breach an earlier order to maintain the status quo. Regulators and marketers have previously argued that imports are needed to ensure adequate supply and prevent shortages. Recently, the NMDPRA issued licences to six marketers for the importation of 720,000 metric tonnes of premium motor spirit (petrol). The marketers are NIPCO, AA Rano, Matrix, Shafa, Pinnacle, and Bono. This development comes amid claims by the NMDPRA that Dangote Petroleum Refinery now supplies over 90 per cent of Nigeria’s daily petrol consumption. OPEC Lowers 2026 Global Oil Demand Growth Forecast Findings showed that NIPCO is expected to import 120,000 metric tonnes; AA Rano, 150,000 MT; Matrix, 150,000 MT; Shafa, 120,000 MT; Pinnacle, 120,000 MT; and Bono, 60,000 MT, amounting to a total of 720,000 MT. Dangote has argued that the licences undermine its operations and contravene the law, which it says allows imports only when domestic supply falls short. The refinery defended its capacity, stating that it is now operating at 661,000 barrels per day. “The refinery has been tested. We have now processed crude at 661,000 barrels a day. So we have demonstrated that capability,” said an official of Dangote Refinery recently.

Ghana: NPA, Western Naval Command Burn Boat Used For Fuel Smuggling

Michael Creg Afful
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Ghana: NPA, Western Naval Command Burn Boat Used For Fuel Smuggling

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Ghana’s petroleum downstream regulator, the National Petroleum Authority (NPA), in collaboration with the Western Naval Command (WNC) of the Ghana Navy, has intensified efforts to combat illicit fuel smuggling and trading along Ghana’s coastal areas. The joint operation led to the interception of wooden boats suspected to have been used for the transportation and distribution of illicit and unaccounted-for fuel products in Sekondi-Takoradi. In a symbolic gesture aimed at deterring illegal petroleum activities, the Chief Executive Officer of the NPA, Mr. Godwin Kudzo Tameklo Esq., ordered the burning of an impounded wooden boat following the operation in Sekondi-Takoradi. Nigeria: Dangote Refinery Files Fresh Lawsuit Against Government, Regulator Over Fuel Import Licences Addressing personnel and stakeholders during the exercise, Mr. Tameklo declared that “enough is enough,” stressing that the Authority would deepen its cooperation with the security forces to crack down on illicit fuel activities across the country’s coastal belt. He further described the economic cost of the illegal trade to the Ghanaian people as unethical and unacceptable, underscoring the urgent need to bring such acts to an end in order to protect national revenue and preserve the integrity of the downstream petroleum sector. Also present at the operation was Commodore (Cdre) Samuel Ayelazono, Flag Officer Commanding (FOC) of the Western Naval Command, who underscored the Ghana Navy’s continued collaboration with the NPA in tackling maritime-related fuel smuggling and other unlawful activities along the country’s coastline.

Morocco: ONHYM Head Says Africa Can Lead Green Energy

Peter Adofo Asante
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Morocco: ONHYM Head Says Africa Can Lead Green Energy

Africa has the potential to become a global green energy leader, and Ghana is well-positioned to play a key role through the new Nigeria-Morocco Gas Pipeline, Amina Benkhadra, head of Morocco’s Office of Hydrocarbons and Mining (ONHYM), said at a recent Stimson Center online event.

Benkhadra highlighted ONHYM’s dual approach: drilling for gas off Morocco’s coast while building hydrogen fuel factories, capturing carbon emissions, and converting phosphate rock into materials for electric vehicle batteries, including lithium iron phosphate.

She called 2026 a “make-or-break” year for the $25 billion pipeline. The project will run through 13 countries—including Senegal, Mauritania, Ghana, Côte d’Ivoire, and Liberia—and aims to deliver its first gas by 2031, once agreements are finalized next year.

ONHYM’s subsidiary, OMCo, is leading the project to supply both Europe and Africa. ONHYM’s strategy director confirmed the plan is moving full speed ahead.

Expert Peter Tutu called it a “political deal,” cautioning: “Africa shouldn’t just give away its gas—we need fair prices and rules.”

For Ghana, the pipeline could mean transit revenue, cheaper fuel for factories, and boosted trade under the AfCFTA.

Nigeria is seeking Ghana’s support, which aligns with the country’s own plans, including a new refinery capable of processing 300,000 barrels per day and 2023 regulations to process lithium, graphite, and manganese domestically.

 

Trump Faces Pressure As Gas Prices Surge Amid Iran Conflict

Michael Creg Afful
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Trump Faces Pressure As Gas Prices Surge Amid Iran Conflict
The U.S. government is scrambling to contain the economic and political fallout from the war with Iran, Reuters reported, citing three people familiar with White House discussions, as hopes for a quick resolution fade. U.S. President Donald Trump this week backed suspending the federal gas tax, a step that would knock 18 cents a gallon off motor fuel prices, which are currently averaging more than $4.50 a gallon nationwide. According to the Reuters report, there is a consensus among some White House officials that, with prices up 50% since the start of the war, Trump needs “a visible consumer relief move now.” Historically, $4-per-gallon gasoline has been a level that triggers public backlash and economic anxiety. That has been evident since the war began, as consumer sentiment recently dipped to a record low and U.S. consumer inflation surged to 3.8% in April, the highest level in nearly three years. More than six in 10 Americans say their household finances have taken a hit from higher gas prices, according to a May Reuters/Ipsos poll that put Trump’s economic approval rating at just 30%, down several points since the beginning of the war. Trump now faces mounting pressure from fellow Republicans who fear the economic pain caused by the war could spark voter backlash and cost the party control of the House of Representatives and possibly the Senate in November’s midterm elections. Some White House officials have been poring over market data to gauge whether the national average gas price could climb to $5 a gallon. OPEC Lowers 2026 Global Oil Demand Growth Forecast Seven states have already surpassed that mark, according to AAA data. “They feel like that’s their largest vulnerability right now: that specific cost — gas — not overall economic conditions,” said a political adviser to the White House. “The toughest thing, too, is that we made gas prices the Achilles’ heel for former President Joe Biden, and now it’s our own.” White House spokeswoman Taylor Rogers said Trump and his energy team had anticipated the war’s disruptions to global energy markets and prepared a plan to mitigate the impact. “The ability to supply both the United States and our allies with reliable, affordable, and secure energy has long been a key strategic objective of President Trump, and his successful efforts to unleash American oil and gas have achieved this objective,” Rogers said. The administration’s concerns have deepened as U.S. oil and fuel exports have surged to record levels, driven by Asian and European buyers scrambling for supply. That has drawn down U.S. inventories at a time when they typically rise, raising alarms among Wall Street analysts who warn the U.S. could face a crunch that sends gasoline, diesel, and jet fuel prices even higher this summer. Energy prices have spiked since Iran cut off access to the Strait of Hormuz, a waterway that normally carries one-fifth of the world’s oil supplies. Companies ranging from airlines to McDonald’s are seeing the effects, with the fast-food giant’s CEO saying last week that lower-income consumers were spending less. U.S. airlines’ fuel expenses in March jumped 56% from February, according to Transportation Department data, squeezing carriers already operating on thin margins, including Spirit Airlines, the troubled budget carrier that shut down earlier in May. Trump has called the increases “a small price to pay” for efforts to topple Iran’s regime and prevent Tehran from acquiring a nuclear weapon.
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