Cairo - Mubasher: The Egyptian cabinet’s information and decision support center (IDSC) negated on Sunday the news that the government is planning another raise in fuel prices in the upcoming period, according to a statement.
The statement said the oil ministry says that fuel prices in Egypt will not affected by the recent OPEC deal to cut oil production by 32.5 million barrels per day, beginning January 2017 for 6 months.
The Egyptian oil minister said that fuel subsides in Egypt totalled nearly EGP 64 billion after the increase in oil prices in global markets as well as the recent decision by the central bank to float the Egyptian pound.
