World’s cheapest fuel leaves Libya short as smugglers cash in
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Libya holds Africa’s largest crude reserves but imports most of its fuel and sells it at less than three cents a litre, the cheapest price in the world. The subsidy keeps official prices low but fuels massive smuggling and a flourishing black market, leaving truck drivers queuing for days for diesel. This year the government is expected to import $15bn of fuel, with up to half believed to be smuggled out, prompting growing calls to scrap subsidies and invest in infrastructure instead. Al Jazeera’s Malik Traina reports from Tripoli. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on X : https://twitter.com/AJEnglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.news/AJEMobile #Libya #Tripoli #FuelCrisis #DieselShortage #Smuggling #Subsidies #OilReserves #BlackMarket #Economy #AlJazeeraEnglish
Tags: Africas largest crude oil reserves, Libya, Tripoli, al Jazeera, al Jazeera English, al Jazeera live tv news English, aljazeera live, aljazeera live tv news English, domestic demand, fuel imports, fuel price, government subsidies, local refineries, الجزيرة مباشر
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