Libya's Monthly Fuel and Smuggling Costs
Libyan economist Hosni Bey received strong criticism for the lack of serious discussions surrounding the high economic figures related to the fuel and energy bills, especially considering that half of the oil and gas production is wasted. He pointed out that, in 2026, the country is expected to import nearly $9 billion worth of fuel, with potential losses ranging between $2.4 billion and $4.4 billion due to smuggling. He indicated that the domestic economic costs of refined oil and gas increase the overall energy support to around $17 billion. Moreover, he warned that imposing an unrealistic exchange rate for the dollar deepens the gap and encourages smuggling. He cautioned against delaying economic reform efforts and called for decisive actions to be taken immediately.
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