Libya has a long road ahead to combat and terminate fuel smuggling
With a yearly loss of over 750 million dollars to fuel smugglers, Libya continues to struggle in combatting the phenomenon
According to National Oil Corporation estimates, fuel smuggling remains a major concern in Libya, with citizens demanding a quick resolution to the dossier, which contributes to a $750 million loss per year.
Economic concerns suggest that the pace of smuggling may pick up in the coming months as a result of the increase in the price of gasoline in neighbouring countries, following the announcement by Sudanese authorities of the lifting of fuel subsidies to the price of 290 pounds, while Tunisian authorities raised the price of fuel about two months ago to exceed two Tunisian Dinars.
Libyan economists’ demands emphasized the importance of border protection in maintaining domestic economic cohesion in a country where a litre of gasoline price does not exceed 15 pennies.
The Government’s budget proposal for 2021 included a support budget of 20 billion dinars, the majority of which would be devoted to fuel supply.
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