oil and gas

Current energy situation requires ''adjusting'' fuel prices (Minister)

August 3, 2022

(TAP) - The current energy situation in the country, marked by soaring oil prices on the international market, requires 'adjusting' fuel prices, Minister of Industry, Mines and Energy Neila Nouira Gonji said on Tuesday.

Speaking to reporters at a conference on fuels and energy, Gonji said the regulation of fuel prices will be accompanied by measures to support low-income groups, excluding the intention to lift fuel subsidies.

The financing needs to regulate the energy balance amounted to 5,200 million dinars (MD), with the assumption of a barrel price of $75 In the 2022 Finance Law.

However, the barrel price has reached $108 following the Russian-Ukrainian conflict, she explained, adding, «this has led to an increase in needs to MD 10,200.'

Subsidy needs have increased from MD 2,900 to MD 8,000, the minister indicated, stressing that the programme to regulate fuel prices stipulated by the Finance law 2022 will provide 16% of financing needs instead of 32%.


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