Egypt fuel prices soar up to 70%, exasperating the public

[Sally]

With the economy so bad in Egypt and all those anticipated tourist dollars that they depend on not being brought into the country because of the unrest, I can imagine how exasperated the people are.

Egypt fuel prices soar up to 70%, exasperating the public

Egyptians stew over soaring fuel pricesGasoline prices rise by almost 70% as Egyptian government trims subsidiesEgyptian government says energy subsidy cuts are necessary to save billions on national budgetThe Egyptian government trimmed its energy subsidies Saturday, causing fuel prices to soar and motorists to stew.

The cabinet's cuts increased prices Saturday for gas and diesel, in some cases by almost 70%. The action was part of a package of austerity measures taken by President Abdel Fattah Sisi's administration to abolish energy subsidies that cost Egypt around $24 billion annually.

Although the subsidy cut was anticipated, many were left disillusioned by the unprecedented hike -- with private transportation drivers the first to be hit hard.

Continue reading at:

http://www.latimes.com/world/middleeast/la-fg-egypt-gas-prices-soar-egyptian-pub

 

[Indeependent]

With the economy so bad in Egypt and all those anticipated tourist dollars that they depend on not being brought into the country because of the unrest, I can imagine how exasperated the people are.

Egypt fuel prices soar up to 70%, exasperating the public

Egyptians stew over soaring fuel pricesGasoline prices rise by almost 70% as Egyptian government trims subsidiesEgyptian government says energy subsidy cuts are necessary to save billions on national budgetThe Egyptian government trimmed its energy subsidies Saturday, causing fuel prices to soar and motorists to stew.

The cabinet's cuts increased prices Saturday for gas and diesel, in some cases by almost 70%. The action was part of a package of austerity measures taken by President Abdel Fattah Sisi's administration to abolish energy subsidies that cost Egypt around $24 billion annually.

Although the subsidy cut was anticipated, many were left disillusioned by the unprecedented hike -- with private transportation drivers the first to be hit hard.

Continue reading at:

http://www.latimes.com/world/middleeast/la-fg-egypt-gas-prices-soar-egyptian-pub

They've kept the peace for so many years.
They deserve better.

 

[Mr. H.]

Obama thinks that he is keeping the peace here in the U.S. by subsidizing lethargy.