Egypt Hikes Gas Price by 75%
Egypt Hikes Gas Price by 75%

Egypt Hikes Gas Price by 75%

Egypt Hikes Gas Price by 75%

Egypt said on Saturday it was raising the price of natural gas for home and commercial use by up to 75%, the latest move in an IMF-backed austerity program that has left many Egyptians struggling to make ends meet. The increase follow hikes to fuel, electricity and public transport prices that are part of a $12 billion IMF loan program signed in 2016 that aims to lure back investors and lift the economy battered by political turmoil since 2011, ABC News reported. The government statement published in the Official Gazette said that, effective Aug. 1, the price for consuming up to 30 cubic meters of gas had been set at 0.175 Egyptian pounds ($0.0098) per cubic meter, up from 0.100 pounds ($0.0056). The price for consuming 30 to 60 cubic meters was set at 0.250 pounds ($0.014), up from 0.175 pounds ($0.0098), while consumption of more than 60 cubic meters was set at 0.300 pounds ($0.017) from 0.225 pounds. The statement did not specify the timeframes over which the consumption levels apply.


Short URL : https://goo.gl/rppS7e
  1. https://goo.gl/JrcU4B
  • https://goo.gl/CWjRw6
  • https://goo.gl/ZYeCDV
  • https://goo.gl/gi8ZfP
  • https://goo.gl/K3AFei

You can also read ...

Russia Says US Sanctions on Iran "Unproductive"
United States' sanctions on Iran's oil industry are...
Oil Coalition Seeks Consensus Ahead of Algiers Summit
With a critical meeting in Algiers fast approaching, a...
China to Cut Solar, Wind Subsidies
China will speed up efforts to ensure its wind and solar power...
Abu Dhabi Planning Biggest Oil  IPO in Decade
Abu Dhabi is pushing ahead with an initial public offering for...
Crude Prises Higher as Supply Concerns Rise
Oil prices rose on Monday as investors worried about the...
New Power Capacity for Sistan-Baluchestan
Operations to build new combined-cycle power plants in...
Abadan  Refinery  Second Phase  on Track
The second development phase of Abadan Oil Refinery in...
ICOFC to Develop  Eight Gas Fields
Iranian Central Oil Fields Company plans to develop eight gas...

Add new comment

Read our comment policy before posting your viewpoints