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Oil, wheat prices increase in Yemen causing riots
Yemen, Economics, 6/20/1998
The government of Yemen on Thursday decided to increase the prices of gasoline, kerosene, and natural gas by up to 40% percent as of Friday, sparking demonstrations in which gunfire was exchanged between demonstrators and the police. No reports of injuries were available.
MENA reported that a Yemeni official said the government also decided to increase the prices of wheat, but no other details were given. An official at the Yemeni Ministry of Oil and Mineral Resources said that the decision to increase fuel prices is in keeping with the economic reform program adopted by Yemen.
Gasoline prices increased in Yemen in March 1995 within the context of economic reforms agreed upon with the World Bank and the International Monetary Fund. A statement by the Ministry of Oil and Mineral Resources said that Benzene prices will increase by 40% to 35 riyals per liter, 15% for Kerosene to 15 riyals per liter and Gas by 25% to 200 riyals per cylinder.
Meanwhile, an armed group in Yemen that kidnapped seven Italian tourists asked the Yemeni government to pay a ransom for the victims' release.
An armed group from a Yemeni tribe located 400 kilometers east of the capital, Sanaa, yesterday kidnapped a group of nine tourists, but released two women due to state of their health.
The Yemeni sources said that there are officials among the hostages, "which increases the crisis, because it is the first time in which Yemeni officials are kidnapped."
The sources said that Yemeni tribes have kidnapped over the last five years nearly 200 tourists and that they were all released without hurting any one of them when the government committed to fulfilling the tribes' requests.
Previous Stories:
Japan reschedules Yemeni debts
(6/18/1998)
Egyptian delegation visits Yemen to market electrical equipment
(6/11/1998)
Yemeni government preparing for price liberation
(6/10/1998)
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