15 April 2022; MEMO: Tunisia will raise local fuel prices every month this year by no less than 3 per cent, an official in the energy ministry said on Thursday, which may mean an increase of at least 30 per cent by the end of 2022, Reuters reported.
Tunisia raised fuel prices by 5 per cent on Wednesday, its third hike this year, following a sharp rise in oil prices in an effort to rein in its budget deficit, according to the Reuters report.
The North African country, suffering from its worst financial crisis, is trying to agree on a new financing program with the International Monetary Fund (IMF) in exchange for unpopular reforms including cuts in fuel and food subsidies.
"The Finance Law says that there will be a monthly increase in fuel prices by 3 per cent at least this year," Afif Mabrouki, an official at the energy ministry said.
On 18 February, the Minister of Industry, Energy and Mines, Naila Nouira, said the increases in energy prices approved by the government are part of an unpopular economic reform package demanded by international lenders in return for a financial rescue program.
