Cooking oil disappears from Libyan markets ahead of Ramadan.

February 16, 2026
libyawire
Economy
0

Tripoli – Libyans are facing a new crisis as cooking oil has disappeared from commercial markets just before the start of the holy month of Ramadan, at a time when living pressures on citizens are increasing.

Shelves in stores across a number of cities appear almost empty of this essential commodity, forcing consumers to travel between shops in search of oil containers. They often face restrictions on the quantities they are allowed to purchase, with some stores setting a limit of no more than three containers per person.

The Municipal Guard announced that the maximum sale is four containers per individual, confirming that the decision aims to control prices and limit speculation.

In response, the Ministry of Economy and Trade has taken strict measures. It referred a list of 85 companies to the Central Bank of Libya to suspend the opening of their documentary credits, after they obtained credits worth $130 million without this being reflected in the abundance of oil in the market. It also suspended the credits of five other companies and stopped issuing registration certificates for violating suppliers.

At the beginning of February, the ministry had set the price for an 850-milligram container of oil between 7.5 and 8.75 dinars, pointing to a surplus in quantities supplied during December and January worth $67 million. However, it denied the existence of import bottlenecks, which contradicts consumer complaints.

Simultaneously, the Law Enforcement Administration launched an inspection campaign on markets and warehouses, announcing the seizure of stored quantities and the sealing of a number of warehouses with red wax in cooperation with the Municipal Guard, in addition to issuing warnings to other parties.

Despite these moves, concerns remain as Ramadan approaches, amid questions about the market’s ability to restore balance and ensure a stable supply of oil. The Central Bank of Libya confirmed that it agreed with suppliers to supply 2.5 million boxes of oil within two weeks, along with credits worth $100 million to supply an additional six million boxes, to be distributed gradually in coordination with the relevant authorities.

Tripoli

Tripoli is the capital and largest city of Libya, with a history dating back to the 7th century BC when it was founded by the Phoenicians. It later became a significant Roman city and a major port under various rulers, including the Ottomans and Italians, which is reflected in its historic medina and diverse architecture.

Ramadan

Ramadan is the ninth month of the Islamic lunar calendar, observed by Muslims worldwide as a month of fasting, prayer, reflection, and community. Its history is rooted in the Islamic tradition that it was during this month that the Quran was first revealed to the Prophet Muhammad.

Central Bank of Libya

The Central Bank of Libya is the country’s primary monetary authority, established in 1956 to issue currency and manage monetary policy. It has played a critical and often divisive role in Libya’s recent history, notably functioning as a unified financial institution during the post-2011 civil war period despite the country’s political fragmentation.

Ministry of Economy and Trade

The Ministry of Economy and Trade is a government department responsible for regulating and developing a nation’s commercial and industrial policies. Its history typically aligns with the formation of the modern state, evolving to manage trade agreements, economic planning, and business affairs.

Law Enforcement Administration

The Law Enforcement Administration is a government agency responsible for overseeing and coordinating police and public security functions within a specific jurisdiction. Its history is typically tied to the development of modern state policing structures, often emerging to centralize command, standardize procedures, and improve efficiency in crime prevention and response.

Municipal Guard

The Municipal Guard was a public security force in Portugal, active from 1867 until its dissolution in 1910. It was established to maintain order in Lisbon and Porto, but became widely unpopular for its repressive actions and its loyalty to the monarchy, which contributed to its disbandment following the establishment of the Portuguese Republic.