WHO SAID THAT OIL IS OIL? QUI AVAIT DIT QUE L’HUILE C’EST L’HUILE ?
English version In March 2024, CBON, in the midst of a populist campaign, declared: "Oil is oil, it needs to be brought down to 1,000 francs." This statement was made as part of the fight against the high cost of living in Gabon. Faced with inflation and public complaints about basic necessities, CBON addressed economic operators and merchants to demand an immediate reduction in prices. With this odd formula, CBON swept aside the justifications given by importers, who invoked brand, type of refining, or origin to justify higher prices for certain oils compared to others. CBON's reasoning at the time was as follows: cooking oil is a universal staple product, and its retail price to households should be capped at 1,000 CFA francs, without distinction. For CBON, the differences between brands (origin, refining, quality) were merely commercial pretexts to justify higher prices, not substantive differences. The irony of the story is that in today's edition of L'Union ...