Egypt’s government will raise prices on most petroleum products soon.
The country’s Planning Minister Ashraf al-Arabi said this week that the action would push inflation into double digits.
“We will raise energy prices within days,” said Arabi.
He added that the price increase would apply to diesel, gasoline, heavy fuel oil mazut and gas feedstock for factories. The hike however will not apply to cooking gas.
The minister stated that the price of electricity would also increase for the heaviest consumers.
Arabi however, did not indicate the extent of the price increase but said they would produce a “shock” in the price of other goods and services.
“The government expects it to be in the double digits,” he said.
