July 4, 2019
The Ministry of Petroleum and Mineral Resources set the date for the increase in gas prices at 8:00 am on Thursday July 4.
Following the news, gas stations became very busy.
The increase in gas prices comes as part of the Egyptian government’s commitment to liberate the price of fuel over five years, starting in 2014 and ending 2019.
According to a report issued by the General Authority for Petroleum, the average cost of producing gasoline and diesel has been EGP 8.5 per litre during the current year. The cost of fuel production on the state is variable and not fixed.
On July 1, Egyptians received shocking news that the price of electricity had increased by an average of 14.9 per cent in conjunction with the beginning of the new fiscal year 2019-2020. The year starts on July 1 and ends on June 30 the following year.
The highest increase in prices came from the three lowest consumption groups, which are between 50 and 200 kWh per month and ranged from 32 to 35 per cent, according to the Ministry of Electricity last May.