Struggling with an ever-rising subsidies bill Egypt’s cabinet has approved 40-50% price increases for gasoline and diesel, and 100% for LPG. The price hikes are effective immediately  from 29 June. 

This is the second rise in fuel prices since Cairo floated its currency in November as part of a $12bn loan agreement with the IMF (MEES, 18 November 2016).

The Egyptian pound has since more than halved in value compared to the dollar, from E£8=$1 pre-November to currently...