Sudan Increases Fuel Prices after Subsidies Removed

Business

July 2nd, 5:41am

Asharq Al-Awsat

People get their car filled at a petrol station in Khartoum, Sudan. November 4, 2016. (Reuters)

Sudan has increased fuel prices for the first time since subsidies were removed, energy minister Jadein Ali Obeid said on Thursday. The price of gasoline went up from 290 Sudanese pounds per liter to 320 pounds, while the price of diesel went up to 305 pounds per liter from 285, according to a Reuters witness. Sudan has been implementing aggressive IMF-monitored reforms in the hopes of turning around its economy and attracting debt relief and renewed financing. The reforms have been painful and annual inflation climbed to 363 percent in April. Sudanese officials and the IMF have said the reforms, which included a sharp currency devaluation, would cause prices to rise and add to pressure on citizens.

from Asharq AL-awsat https://english.aawsat.com/home/article/3058206/sudan-increases-fuel-prices-after-subsidies-removed