Egypt Raises Price of Diesel, Fuel by 7% Due to Ukraine War
Egypt has raised the prices of diesels and fuels by more than 7%, in reaction to inflationary pressures due to Russia’s war on Ukraine. The price increases that were introduced on Wednesday will likely cause a rise in the prices of other goods and services, The New Arab reported.
Along with the price rise in diesels and fuels on Wednesday, transport authorities in the Egyptian capital of Cairo, announced that fares for various transportation services, including trains, subway and taxis, would increase between 5% and 7%.
Egyptians have been grappling with rising staple food prices and for other basic goods since the Russia began its war on Ukraine. In March, Egypt’s prime minister set a fixed price for commercially sold bread, in reaction to the rise in the price of wheat due to Russia’s war on Ukraine.