Sudan Raises Petrol, Diesel Prices

Business

July 24th, 4:53am

Asharq Al-Awsat

Motorcyclists queue-up for fuel at a gasl station in al-Amarat district of Sudan's capital Khartoum on June 10, 2021.

Petrol prices in Sudan rose on Saturday by 90 Sudanese pounds to 760 pounds ($1.34) per litre, the country’s oil ministry said in a statement. Diesel prices increased by 108 pounds to 748 pounds per liter. There were repeated fuel price hikes last year as Sudan completed a process of phasing out subsidies on fuel, which is now meant to follow global prices, according to Reuters. Sudan's annual inflation dropped to 192.21% in May from 220.71% in April. The country has been implementing aggressive IMF-monitored reforms in the hopes of turning around its economy and attracting debt relief and renewed financing. The economic situation deteriorated since the 25 October 2021 coup. It also suffers a severe shortage in foreign currency. Sudan continues to subsidize cooking gas and furnace oil, as well as wheat and medicines, although there are frequent shortages of those commodities. People wanting to fill their cars with gasoline or diesel must typically face long lines.

from Asharq AL-awsat https://english.aawsat.com/home/article/3776056/sudan-raises-petrol-diesel-prices