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Egypt raises wide range of fuel prices, official gazette says

Egypt raises wide range of fuel prices, official gazette says

EGYPT raised prices on a wide range of fuel products, the official gazette said, pressing ahead with a promise it made to the International Monetary Fund (IMF) more than a year ago as part of a $3 billion financial support agreement. In a letter of intent signed in November 2022, Egypt said it would allow most fuel product prices to rise to bring domestic prices more in line with those in international energy markets. It also promised to make up for a slowdown in such increases over the previous year. But it subsequently hiked prices only once, in March 2023.…
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