Egypt raises fuel and diesel prices amid public anger

0 Comments | AFP, May, 2008

CAIRO (AFP) — Egypt's parliament on Monday voted in favour of a set of tax and duty increases including on fuel, diesel and cigarettes amid public anger at price hikes and the state of the economy.

According to the proposal presented by the ruling National Democratic Party, the price of diesel -- used by most public transport -- will rise by 46 percent to reach 1.10 Egyptian pounds (20 US cents) per litre.

Natural gas will go up by 58 percent for heavy industry from 36 piastres (six cents) to 57 piastres (10 cents).

Local cigarettes will increase by no more than 25 piastres while imported cigarettes will go up by 33 percent.

Petrol will go up by between 30 to 40 percent, except for the commonly used 80 octane petrol which will remain subsidised....