Egypt may have just raised fuel prices for the last time for the foreseeable future. Effective 17 October, the country’s Automatic Fuel Pricing Committee announced that fuel prices at the pump will increase from between 11-16% though this would be for at least a year “amid the ongoing developments locally, regionally, and globally.”
Egyptian officials speaking to local media have even intimated that this could be the final fuel price increase. This should be taken with a pinch of salt though as local media had also recently reported that Cairo was considering delaying the latest price hike until the new year to help ease inflation which in September shrank for a third straight month (MEES, 17 October). (CONTINUED - 738 WORDS)
