Libya is the second cheapest country for gasoline, with a liter priced at about $0.031, thanks to low taxes on petroleum products, which makes it cheaper than most African oil-producing countries.

Amid these prices, the government led by Osama Hamad may raise fuel subsidies, with a proposal to implement this change.

However, Finance Minister Ahmed Mortada denied that a final decision has been made, explaining that the government is discussing reforms to adjust fuel prices and their impact on the economy and citizens.

Despite this, Libya’s economy is suffering from fuel smuggling, which drains $5 billion annually from the state’s treasury, while fuel subsidies amounted to 12.8 billion Libyan dinars in 2023.