Egypt is expected to spend EGP 55 billion in annual diesel subsidies during the fiscal year FY 202223 after the government’s Wednesday decision to raise diesel prices for the first time in 30 ...

Egypt has a gas deficit of about 3.5 billion cubic meters per day, with Israel contributing about 800 million to 1 billion cubic meters to fill that gap, one of the people said. The remainder is being ...

* Sells oil to pay bills, leaving less for refineries* Rising fuel import bill compounding payment problems* Political, social unrest limit access to creditBy Julia Payne and Jessica DonatiLONDON, Dec ...

According to the Ministry of Petroleum, Egypt's local production of diesel fuel covers 75 per cent of the country's consumption needs, while the rest is covered through import.

Egypt imports up to 70 per cent of its diesel, which it uses to fuel cars, ... “Some of the crisis is because you have smuggling of this item through time,” said Mr Sobhi.

Subsidies keep the price of diesel, for example, at about 1 Egyptian pound ($0.14) per liter. By comparison, the same amount of fuel costs $0.95 in neighboring Jordan, which has given rise to the ...

"Haven't seen a crisis like this before," the 46-year-old Mahmoud said, still waiting at noon Monday for a chance to fill up. "People are asleep in their homes and we are here waiting to refuel." ...