Yemen’s government approves substantial increase in fuel prices to address economic challenges

Yemen’s government has given the green light to triple gasoline prices in Marib province, expected to further strain an already struggling population.

According to Arabi 21’s report on Wednesday, the government’s Supreme Economic Council has given the green light to a price hike that bumps up the cost of a liter of fuel in the central province from 150 Yemeni riyals (equivalent to US$0.60) to 487 riyals (about US$2).

According to a report from the pan-Arab news website, the cost of cooking gas has been increased from 2,100 riyals (US$8.39) to 2,400 riyals (US$9.59) per cylinder.

Yemen’s internationally recognised government controls only parts of central and southern Yemen. #

It has lost control of the capital Sanaa and most of northern Yemen to the Houthi rebels, with whom government forces have fought since 2014.

In southern Yemen, its authority is challenged by the separatist, UAE-backed Southern Transitional Council.

Production of oil, whose sale is vital to Yemen’s economy, has shrunk to just a fraction of pre-war levels.

The Houthis have repeatedly targeted ports in government-controlled areas to prevent oil exports.

Much of the Yemeni population lives in extreme poverty, and more than 80% of the population is reliant on aid.

A Saudi-led coalition has backed government forces in their war with the Houthi rebels since 2015.

The coalition and the Houthis agreed to and twice renewed a short-term truce last year, but efforts to renew the truce once more have stalled.