Natural gas price has sharply risen

Natural gas for the household has grown as much as 75 percent by the decree of the government. It has been done ‘in a string of measures aimed at reforming the economy’ while IMF pushes the government to end the subsidies for the poor.

For those who consume below 30 cubic meters per month the price has risen from 1 LE to 1.75 LE. For those in the range of 30-60 cubic meter the rise is from 1.75 LE to 2.5 LE. For the rest it has risen from 2.25 LE to 3 LE. The increase will come into effect in August.

The increases come a month after the government raised fuel prices for the fourth time since 2014 by up to 50 per cent as part of a $12 billion loan deal from the International Monetary Fund (IMF) signed in late 2016.

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