On the horizon
Look for news soon on petrol price hikes: The Supreme Energy Council will be deciding the rate of fuel price hikes during its next meeting, an unnamed government official tells Al Shorouk, without specifying when. Sources had said last week that the government was planning to raise the price of 92 octane petrol to EGP 4.50 per liter (an EGP 1.00 hike) starting July. Some in government and parliament have been pushing to postpone the hike until political tension — primarily over the Tiran and Sanafir agreement — eases and to avoid coinciding with the increase in electricity prices starting July, the newspaper reports. Delayed or not, the official says, the price hikes are coming and have already been factored into the state budget for the new fiscal year. AMAY cites sources in government as saying that the authorities have not yet agreed on a timeline for the price hike.