Search
  1. Home
  2. Southern Africa
  3. Angola

Petrol prices rise in line with IMF plan - radio

    JOHANNESBURG

    Angola’s state oil company Sonangol hiked petrol prices on Monday as part of an IMF programme to restructure its war-torn economy, church-run radio reported on Monday. The price of cooking gas also rose.

    The radio station said the hike was in line with a plan outlined in an IMF agreement that was first signed a year ago to last for eight months. It was extended last November until June 2001.

    The hike is partly designed to gradually remove state subsidies. Angola produces 750,000 barrels a day of crude, but has pumped massive amounts of money into subsidies that keep petrol prices artificially low.

    The last hike a year ago resulted in street protests that were initially stopped by the government. It later gave permission for the protesters to stage demonstrations, but they soon fizzled out. Fares for mini-bus taxis, the most common method of transport in a city overcrowded with people are expected to rise with the petrol price hike.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

    Share this article

    Our ability to deliver compelling, field-based reporting on humanitarian crises rests on a few key principles: deep expertise, an unwavering commitment to amplifying affected voices, and a belief in the power of independent journalism to drive real change.

    We need your help to sustain and expand our work. Your donation will support our unique approach to journalism, helping fund everything from field-based investigations to the innovative storytelling that ensures marginalised voices are heard.

    Please consider joining our membership programme. Together, we can continue to make a meaningful impact on how the world responds to crises.

    Become a member of The New Humanitarian

    Support our journalism and become more involved in our community. Help us deliver informative, accessible, independent journalism that you can trust and provides accountability to the millions of people affected by crises worldwide.

    Join