With a new increase, Tunisia raises monthly fuel prices by no less than 3%

An official in the Tunisian Ministry of Energy said yesterday that Tunisia will raise domestic fuel prices every month this year by at least three percent, which means a rise of at least 30 percent by the end of 2022.

Tunisia raised the price of fuel by five percent, the day before yesterday, in the third increase of its kind this year due to the significant increase in oil prices, with the aim of reducing its budget deficit.

Reducing fuel subsidies is a major reform demanded by lenders.

The director of fuel distribution at the Ministry of Energy, Afif Al-Mabrouki, said that the Finance Law approved an increase of three percent per month this year.

The Tunisian Ministry of Energy said yesterday that the country's trade energy balance deficit jumped in the first two months of the year by 62 percent compared to the same period last year, reaching $357.71 million.

Tunisia, which is facing the worst financial crisis in its history, is seeking to reach an agreement with the International Monetary Fund on a financial recovery package in exchange for unpopular reforms, including reducing fuel and food subsidies and freezing wages.

The labor union rejects these proposals and threatens a general strike.

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