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Wednesday, 17 August 2016

Diesel prices set to be increased soon -source

Diesel prices are going to rise by year’s end –report: Fuel prices will go up soon, an unnamed source told Al Shorouk. Expect diesel prices to up to EGP 2.25-2.50 per litre from EGP 1.80 currently given the large subsidy the government provides for that specific fuel, he says. The source estimates that the government spends around EGP 3.00 on subsidising each litre of diesel sold. He says the price increases are expected by the end of the year at the latest, but did not give an estimate on how much other fuels’ prices would be increased by. If you see lineups at filling stations this morning, you have this story to thank.

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