Eastern Libyan government agrees to end fuel subsidies

Libya’s eastern-based government said in a statement on December 26th that it had agreed to a proposal to end fuel subsidies and would prepare a mechanism for implementation, according to Reuters.

The administration headed by Osama Hamad, a rival to the UN-recognised Tripoli-based government, didn’t disclose any further details and it’s unclear if it will be able to implement the proposal in the divided country.

A litre of gasoline in OPEC-member Libya costs just 0.15 Libyan dinar, or $0.03, the second cheapest in the world according to the global petrol prices online tracker.

Reuters