Angola cuts fuel subsidies

By Henrique Almeida

LUANDA, Sept 1 (Reuters) – Angolan authorities cut gasoline and diesel subsidies on Wednesday as a prelude to liberalising the country’s downstream oil sector, triggering a steep rise in pump prices and the threat of protests from irate motorists.

The cut means a litre of gasoline will cost 60 kwanzas ($0.65), a rise of 50 percent, and diesel increase by 38 percent to 40 kwanzas, state-owned oil firm Sonangol said in a statement on Wednesday. More…….

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