Arab states hit by rising oil prices
Posted in Arab, Egypt, oil on May 7, 2008 | 1 Comment »
Oil has risen to yet another record high - just shy of $121 dollars a barrel.
One knock on effect is that some Arab countries are removing state subsidies, which are costing billions of dollars a year.
Jordan removed fuel subsidies in February and, since then, oil prices have shot up by 82 per cent.
Syria too is [...]
