The Ministry of Finance submitted a proposal to the Council of Ministers to reduce the percentage of subsidies provided by the state for all petroleum products, including gasoline. According to Al Rai daily, the government did not take a decision yet and the proposal is under discussion and study in the Ministerial Committee for Economic Affairs.

According to report, the proposal suggest to re-examine the various types of subsidies provided by the state and the price of gasoline included in the plan will be raised by a maximum of 25 percent.

Accordingly, the price of a liter of Premium 91 gasoline will be increased by 20 fils, from its current price of 85 fils per liter to 105 fils. According to report, this increase will give a targeted saving of about 6.2 million dinars, based on the average consumption of last year.

The proposal also includes increasing the price of a liter of Super 95 gasoline by 25 fils, rising from 105 fils to 130 fils, which will achieve a targeted saving for the public treasury of about 4.5 million a year.