The price of the barrel of oil crossed the 100 dollars mark this Thursday, February 24, 2022, for the first time in more than 7 years. This drastic increase comes after Russian president Vladimir Putin announced a military operation in Ukraine.
The price of a barrel of Brent is therefore, today, at 100.04 dollars, with growing concerns about a large -scale war in Eastern Europe causing a greater increase.
What effects on Tunisia?
The Minister of Industry, Energy and Mines, Nayla Nouira Qanji, confirmed yesterday that a revision of fuel prices will take place in light of the increase in oil prices worldwide, explaining that this increase will be controlled and will not affect the medium and weak social slices.
The value of the increase will be determined by the competent commission and announced in the coming days, she added. It should be noted that fuel prices in Tunisia experienced an increase in early February.
This being the real difficulties are elsewhere knowing that the state budget for the year 2022 has been developed on the basis of a benchmark price for the barrel of oil (Brent) of 75 dollars and that an increase in a dollar in the price of the barrel of oil represents an additional cost of 142 million Tunisian dinars (MDT) for the state budget.
The increase in oil prices will therefore add new pressures to the country’s budget.
