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Egypt lowers fuel prices by 3%
Fuel prices fall by 25 piastres due to ongoing coronavirus pandemic which has dented oil prices
EEHC pays EGP 27.3bn to EGAS for 6 months’ worth of fuel
EGAS dues exceeded EGP 165bn end of 2019
Economy Plus poll forecasts currency appreciation, lower interest rates, price cuts across consumer goods
Appreciation of currency, lower interest rates, price cuts across consumer goods, and stability of fuel costs
One person killed in Iran’s protests against fuel price hikes
Demonstrators in several cities erupted against the Iranian government’s decision to increase fuel prices by 50% and cut subsidies on Friday
Prometeon Tyre releases 01 Series to reduce fuel consumption up to 6%
Economic reform measures have attracted foreign capital
Government stabilises fuel prices as hedging contracts defy oil fluctuations
A government source told Daily News Egypt that the government has fixed the prices of petroleum products, in parallel with fixing the value of hedging against price fluctuations, which protects the state budget from bearing any additional burdens.
Decline of inflation means price stability, not decrease: experts
Some experts suggest citizens cannot yet feel decline due to other services not included by CAPMAS
How can Egyptians reap fruits of economic reform?
Egypt embarked on a bold economic reform programme that included the pound flotation, a reduction in fuel and electricity subsidies, imposing taxes including the value-added tax (VAT), all with the aim of trimming the budget deficit.
Israel strikes Gaza, cuts fuel deliveries to strip’s main power station
One of the airstrikes targeted the office of a Hamas commander, but no casualties reported, a Palestinian security source told AFP.
Iran’s anti-freedom policies fuel incitations non-hijabi women
Police forces reportedly encourages citizens to report on each other and send a text message to locate women who don’t wear hijab
Eastern Company increases cigarette prices to cover fuel, electricity price hikes
Prices of the company’s products to increase by EGP 1 after the approval of new tax, says Fouad
Increased fuel prices raise sales of small cars
Egyptian market unqualified to receive electric cars, hybrids
GO Mini, Sawa, Smart card: alternatives to ease fuel price increase
Careem stated that the services of “Go Mini” and “Sawa” have been lunched in Cairo and other cities through a convenient transport experience, at competitive prices for users of Careem in Egypt, according to Masrawy.
Fuel subsidy cut to hike prices by 20-30%: economic experts
The price of a litre of octane petrol 92 increased to EGP 8, up from EGP 6.75. Moreover, the price of octane petrol 80 and diesel fuel both increased from EGP 5.50 to EGP 6.75.
Egypt still subsidises 15% of fuel in local market: official source
Fuel prices to be reviewed quarterly according to crude oil prices in hedging contracts
Egypt slash fuel subsidies raising petrol and diesel prices by 25%
New price for octane 80 petrol, diesel set at EGP 6.75, octane 92 petrol EGP 8, LPG cylinder to EGP 65
EGX expected to move sideways in anticipation of fuel price hike
Buying selected stocks amid possibility of correcting index towards 13,900
Government reviews oil hedge rates after sudden fall in oil prices
State budget bore $5 difference in price of barrel for JP Morgan, Citibank
Government aims to cut fuel subsidies to 1.7% of GDP in FY 2018/19
Expenditures to improve public services this FY amounted to EGP 182bn, says petroleum ministry
Upper Egypt pipelines receive 7.5m tonnes of fuel annually: PPC
Upper Egypt receives about 7.5m tonnes of crude oil, butane, and petroleum products through pipelines annually, the Chairperson of Petroleum Pipeline Company (PPC), Abdel- Moneim Hafez, said He pointed out that investments worth EGP 3.6bn were injected into Upper Egypt, including a project to increase the capacity of butane to Lower Egypt governorates from a …
Egypt aims to increase fuel prices by about 25% in June
Country imports around 35% of domestic consumption of petroleum, says industry source
Egypt to implement several reforms in June including eliminating fuel subsidies: IMF
Authorities planning to hedge oil prices, but IMF advised caution, says report
Egypt remains committed to cost recovery of most fuel products by mid-2019: IMF
More difficult external environment poses new challenges on country’s economy, says Lipton
“Fuel subsidy reform plays a key role in fiscal consolidation”: IMF
In its third review under the extended arrangement in accordance with the Extended Fund Facility issued in July 2018, the International Monetary Fund (IMF) assured that the ongoing energy subsidy reform continues to play a key role in fiscal consolidation. It clarified that the fuel subsidy bill has decreased from 3.3% of the GDP in …
Egyptians bear 70% of fuel prices through threefold price hikes in 2 years
To meet the demands of the IMF to grant Egypt the $12bn loan, curb the budget deficit, and to deal with the increasing inflation rate, fuel subsidies underwent non-recurrent stages to be phased out, toward being fully suspended in 2019 according to a subsequent 2018 statement for the Minister of Petroleum and Mineral Resources, Tarek …
MSMEDA signs 2 contracts of EGP 20m to convert 4,000 cars from operating on diesel fuel to CNG
Agency injected EGP 152m in past years to convert 30,500 cars, including 25,500 transport cars, 5,000 passenger cars
Fuel economy question, lubricants’ role in achieving it
New adopted rules call for average fuel efficiency across manufacturer’s fleets to reach equivalent about 92 mpg by 2030, up from 57 mpg in 2021
Fuel imports costs $450m monthly
Gasoline, diesel, butane account for largest part of imports, imports will be cut in 2019, as several new refining units in Egypt spring into action
French government to ‘suspend’ fuel tax hike
“It is first step, but we will not settle for crumb,” said Benjamin Cauchy, one of leaders of protests
Fuel exports up to $3.4bn in 7 months
The oil sector has been able to raise the value of its foreign exports of fuel to $3.4bn between January and July 2018, up from $2.5bn in the same period in 2017, up by $883m. According to the CAPMAS, total crude oil exports reached $1.1bn in that period, against $1.6bn in that period of 2017, …