Summary:

On 23 November 2022, the government announced the fifth fuel price increase this year, prompting some frustration. The joint announcement by the Ministry of Energy and Mines and the Ministry of Commerce and Export Development raised prices for unleaded and diesel fuel but did not impact the price of household fuel used for cooking and lighting. In February of this year, unleaded gasoline was priced at 2.115 TND per liter. The most recent increase brings the price to 2.525 TND, a 19% increase in 10 months.

Outlook:  

Initial outcry from taxi drivers over the latest price increase is likely an early warning sign of how price increases in the transportation sector could impact Tunisians. As the price of other household goods increases alongside fuel, Tunisians are increasingly frustrated with their limited buying power and stagnant wages, as well as ongoing shortages. We are closely watching how the economic situation evolves, particularly with International Monetary Fund (IMF) reforms and a tense political season looming on the near-term horizon.