Tunisia cuts fuel prices for the third consecutive month

A fuel pump is pictured at Oilibya gas station in Tunis,Tunisia. (File photo: Reuters)

Tunisia has cut on Monday fuel prices by 1.5 percent for the third consecutive month, the energy ministry said on Monday as global oil prices still low.

The new price cut is under a new mechanism for automatic price adjustments adopted this in order to reduce fuel subsidies.

The price of a liter of gasoline will decrease by to 1.975 Tunisian dinars ($0.6919) from 2.005 dinars, the ministry said in a statement.

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Tunisia expects hydrocarbon subsidies will reach 1.8 billion dinars out of 4 billion dinars allocated for all subsidies. But the low level of global oil prices will reduce the government’s fuel subsidies.

Last Update: Monday, 08 June 2020 KSA 18:05 - GMT 15:05