Sudan to raise price of some petrol from mid February: ministry source
Reuters
Published Feb 12, 2020 02:50PM ET
Sudan to raise price of some petrol from mid February: ministry source
CAIRO (Reuters) - Sudan will raise the price of fuel sold commercially at some petrol stations to 28 Sudanese pounds (55 U.S. cents) per liter from six Sudanese pounds from mid-February, a source in the oil ministry said on Wednesday.
Fuel sold at the new price will still be subsidized at 50% of its cost by the government, the source said, and the six-pound price will continue to be offered, and subject to rationing, alongside the new price.
The new price would allow people prepared to pay more to buy petrol without queueing, and to buy larger quantities of petrol when rationing is in place. This week petrol has been rationed to four gallons per vehicle.
Sudan has been hit by repeated fuel shortages, the latest of which caused long lines at petrol stations over the past week.
High subsidies have also been a drain on the budget, contributing to an economic crisis that triggered the street protests that led to the overthrow of former President Omar al-Bashir last year.
Officials have said they will negotiate reforms to the subsidy system next month, and could move towards targeted cash transfers.
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Written By: Reuters
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