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Residents of Kabul have witnessed a significant increase in taxi fares due to a spike in the price of fuel in Afghanistan, the media reported.

The Afghanistan Chamber of Commerce and Investment (ACCI) cited the surge in the price of oil in international markets and problems with money transfers overseas as the reasons for the spike, reports TOLO News.

"The banking issue is a general issue and we hope the transfer of money overseas is facilitated as soon as possible because the traders need to transfer money abroad for imports," said Mohammad Younus Momand, the acting head of ACCI.

The price of oil had significantly increased in the past week.

"The taxi cab used to be 30 Afs but is now 40 Afs," said Amanullah, a resident of Kabul.

"Both the people and the drivers have a problem, so now who can overcome it?" asked Obaidullah, a resident of Kabul.

The price of one litre diesel is 100 Afs. Last week, the price ofwas around 90 Afs, TOLO News reported.

Taxi drivers say that the high prices of fuel have affected their business.

"I put in fuel at a price of 850 Afs. We earn from 300 to 400 and that is also being spent on the repairs," said Zabiullah, a driver.

Afghanistan imports oil from Central Asian nations and Iran.