Mohale FM The ongoing conflict involving the United States, Iran, and Israel is already producing far-reaching global consequences, raising concerns about economic stability worldwide.
Speaking in an interview with Mohale FM, the Director of Finance at the Central Bank of Lesotho, Mr. Tanka Tlelima, stated that the conflict has created significant uncertainty, making it difficult to predict future developments.
He explained that restrictions on ships transporting fuel—responsible for roughly 20% of global supply—pose a serious challenge. Iran has indicated its intention to block maritime traffic through the Strait of Hormuz, a move that could severely disrupt global trade. Such actions are expected to have a negative impact on the global economy, with widespread increases in the prices of goods.
The price of crude oil has already risen sharply, climbing from $60 per barrel to over $100 per barrel, further intensifying inflationary pressures.
Meanwhile, the Petroleum Fund has announced that it will release updated fuel prices today, in line with its monthly schedule. Anticipating possible increases, many Basotho residents flocked to fuel stations from yesterday afternoon to fill up their tanks.
