Middle East Economic Survey

VOL. XLVII

No 38

20-September-2004

EGYPT

Egypt Lifts Diesel Price By 50%

The Egyptian government has raised the price of diesel fuel by 50% from E0.4 per liter (6.4 US cents/liter) to E0.6/liter, government spokesman Magdi Radi was reported as saying, according to an 11 September report in Al-Ahram. The government spends some E5bn ($80mn) annually on subsidizing diesel, and its price has remained unchanged for the past 10 years, Mr Radi said, adding that the true cost...