egypt feels the squeeze of higher oil prices

Yahoo FinanceWhy Egypt unrest drove oil prices higher, but downside

egypt feels the squeeze of higher oil prices
                                               
                                               
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OilPriceEgypt Feels The Squeeze Of Higher Oil Prices

egypt feels the squeeze of higher oil prices
                                               
                                               
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Egypt Oil & GasImpact of the Oil Prices Hike on the Egyptian

egypt feels the squeeze of higher oil prices
                                               
                                               
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The Middle East ObserverEgypt’s Economic Pressures Mount Amid Fuel Price Hikes

egypt feels the squeeze of higher oil prices
                                               
                                               
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Ahram OnlineEgypt on the way to another inevitable fuel price hike

egypt feels the squeeze of higher oil prices
                                               
                                               
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Egypt’s Inflation: Exchange Rates and Oil Prices’ Hidden

egypt feels the squeeze of higher oil prices
                                               
                                               
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The National DeskHigh gas prices likely to stick around as world struggles with

egypt feels the squeeze of higher oil prices
                                               
                                               
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doxoNew Survey: Americans feel the squeeze as

egypt feels the squeeze of higher oil prices
                                               
                                               
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Money MorningThe Middle East Crisis: Egypt, Libya and Triple-Digit Oil Prices

egypt feels the squeeze of higher oil prices
                                               
                                               
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dailynewssegyptEgyptians feel squeeze as austerity measures, inflation bite

egypt feels the squeeze of higher oil prices
                                               
                                               
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  • What happens if oil prices go up in Egypt?
  • Officials from Egypt’s government told Al Borsa on June 16 that every $1 increase in global oil prices above the budgeted level adds roughly EGP 4bn–4.5bn ($76.9mn-$89.5mn) per year to public spending and exerts more pressure on the fiscal policies. Brent now hovers at $74.23 per barrel and WTI at $72.98.
  • Is Egypt facing a fuel price hike?
  • Amid the mounting economic pressure resulting from the implications of global and regional geopolitical tensions and under a commitment to ongoing reforms, Egypt is again facing the complex challenge of fuel price hikes. File Photo: A worker holds up a fuel pump nozzle after filling up the tank of a car at a petrol station in Cairo. Photo: AFP
  • How does diesel price affect the cost of living in Egypt?
  • Therefore, any increase in its price directly impacts the cost of living. "About 70 percent of transportation in Egypt runs on diesel, and any increase in its price leads to higher production, transportation, and distribution costs. This is why the concerned bodies in the country handle it very carefully," Ragheb explained.
  • How much does a gas cylinder cost in Egypt?
  • "The cost of a cylinder ranges between EGP 325 and EGP 350, but it is sold to citizens at a subsidized price, with the state bearing more than EGP 150," Ragheb said. Despite Egypt’s commitment to its agreement with the IMF to liberalize energy prices by the end of 2025, Kamal believed that full implementation would be rare.
  • Why is Egypt reducing fuel subsidies?
  • Despite global oil prices stabilizing at levels lower than expected in Egypt's budget, continued high local consumption is putting increasing pressure on the government to gradually reduce subsidies. In the FY2024/2025 budget, fuel subsidy allocations amounted to EGP 154.5 billion, one of the highest levels in recent years.
  • What's going on with inflation in Egypt?
  • Inflation rates in Egypt have remained on a downward trend over the past four months, dropping to 12.8 percent for the annual headline inflation rate and 10 percent for the core rate.