As part of anti-smuggling efforts, Libya raises commercial price of kerosene

A general view of the El Sharara oilfield, Libya. [Photo: REUTERS]
Libya’s internationally recognised Government of National Accord said on Wednesday it was sharply increasing the price of kerosene for industrial and commercial use as a first step to reform costly fuel subsidies and tackle smuggling.

According  to the decision, the price will rise to 0.85 Libyan dinars ($0.6) per litre, which is also the production cost, the economy ministry of the Tripoli-based Government of National Accord, Ali Al-Essawi said in a decree published online.

The price of kerosene for domestic use would remain at the old level of 0.15 dinars “until the lifting of the in-kind subsidy and its replacement with a cash subsidy for other products like petrol and diesel, which will be issued soon,” The decree said.

The decree said the aim of this decision is primarily to combat the smuggling of this substance, which is purchased at the subsidised price and smuggled abroad.

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