Struggling with an ever-rising subsidies bill Egypt’s cabinet has approved 40-50% price increases for gasoline and diesel, and 100% for LPG. The price hikes are effective immediately from 29 June.
This is the second rise in fuel prices since Cairo floated its currency in November as part of a $12bn loan agreement with the IMF (MEES, 18 November 2016). (CONTINUED - 324 WORDS)
