Egypt raises natural gas prices by up to 75 percent

Egypt has raised natural gas prices for households and businesses by between 33.3 and 75 percent.

Saturday’s decision, published in the official gazette, should come into effect starting August.

Gas consumption of up to 30 cubic meters was raised by 75 percent, 30-60 cubic meter gas consumption by 42.8 percent and consumption of over 60 cubic meters by 33.3 percent.

The increases come amid a wave of price hikes for fuel, drinking water and electricity. The government has also raised the price of new cellular phone lines and monthly cellular phone bills. Charges for issuing passports and car licenses also went up steeply.

The latest measure comes amid reforms designed to overhaul the country’s troubled economy, which is still reeling from a costly 2011 uprising.

Source: AP