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Egypt has raised the price of gas cylinders for consumers by 50 percent starting today, just months after the last increase.
A decision by Prime Minister Mostafa Madbouly, seen by Reuters, stated that the price of a 12.5-kilogram cylinder for the consumer rose to 150 pounds, compared to 100 pounds last March.
The selling price of a 25-kilogram gas cylinder (commercial) also rose to 200 pounds, compared to 150 pounds.
Egypt is gradually raising fuel prices to reduce the value of subsidies and lower the cost of imports of petroleum and its products, which amounted to about $3.4 billion in the first quarter of 2024.
Egypt has plans to reduce fuel subsidies with a target of completely lifting them by December 2025.
