Sudan Lifts Energy Subsidies, Sets New Gasoline Prices

Sudan liberalized the prices of gasoline and diesel on Tuesday to import prices, according to a statement of the Ministry of Finance.

The country is implementing drastic reforms monitored by the International Monetary Fund (IMF) to help attract debt relief and renewing funding.

The IMF said the reforms, which included a sharp devaluation of the currency, would lead to higher prices and increase pressure on citizens, with an annual inflation rate of 363% in April.

The Finance Ministry said future prices will be determined by import and transportation costs, taxes and profit margins to rise from 150 pounds ($0.35) per liter to 290 pounds, while the price of diesel would rise to 285 pounds per liter from 125 pounds.