Prior end of June , end of fiscal year 2016/017 , Egypt announced raise fuel prices for the second time since the devaluation of the pound in November 2016.
The government raised the price of gasoline 92 octane to 5 pounds (about 0.28 dollars) per liter from 3.5 Egyptian pounds, an increase of about 43 percent, raised the price of 80 octane gasoline (popular type ) to 3.65 pounds from 2.35 pounds, up 55 percent. Price of gasoline 95 rose slightly to 6.60 pounds per liter from 6.25 pounds, up 5.6 percent. (rich type). Egypt raised the price of diesel to 3.65 pounds per liter from 2.35 Egyptian pounds, up 55 percent. The price of the cooking gas has increased from 15 to 30 pounds too.
The price of car gas rose 25 percent to 2 pounds per cubic meter from 1.60 Egyptian pounds.
Owing to those raises , Government said : total volume of petroleum subsidies in the fiscal year 2017-2018, which starts on current July 1st, will reach 110 billion Egyptian pounds, down from 145 billion previously targeted.
Today, Thursday , July.6 , the electricity prices , would increase ,for the third time in row , affected current July, to reduce government subsidies for this sector.
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