Egypt fuel prices to jump 78pc

Last updated 09:59 05/07/2014

Relevant offers


Audi A3 loses some backbone in the face of SUV competition Aussie driver carts everything including the washing machine MoT survey shows surge in public support for 110kmh open road speed limit Video reveals contender for Wellington's worst piece of driving Elton Goonan in petrolhead heaven as Hampton Downs track manager Mum charged after filming 7-year-old son driving BMW reveals Mini Countryman hybrid Problem intersection requires better safety measures How Apple backed away from a titanic carmaking plan 'It got away on me' - driver tells of surviving 167kmh crash during Targa Rally

Egypt will raise fuel prices in ranges that reach up to a 78 per cent hike starting at 10am, NZT, an Oil Ministry source says, as the country tries to cut energy subsidies to ease the burden on its swelling budget deficit.

"The increase will start being implemented by midnight," the source said.

Food and energy subsidies traditionally eat up a quarter of state spending and the government is taking steps to reform its subsidy programme and revive an economy that has been battered by more than three years of political turmoil.

Ad Feedback

- Reuters

Special offers

Featured Promotions

Sponsored Content