VOL. XXXVIII

NO. 27

3-APRIL-1995

Oil Prices

Yemen

Yemen Hikes Gasoline Prices; Riots And Protests Ensue

As part of its plan to introduce financial and economic reforms to help itsailing economy and reduce its massive budget deficit, estimated at YR60bn ($5bnat the official rate of YR12.00=$1.00, although the rate on the open market iscurrently around YR131.00=$1.00), the Yemen Government on 26 March doubled theprice of retail gasoline (from YR6.00/liter to YR12.00) as well as the price ofdomestic...