CAIRO: Egypt has raised natural gas prices for several energy-intensive industries starting in May, according to a prime ministerial decree published on Sunday.
The government has already raised domestic fuel prices by up to 17% in March in response to soaring global energy costs, and is seeking to reduce fuel and electricity subsidies under an USD8 billion programme agreed with the International Monetary Fund.
The decree raised the price of gas by an average of USD2, reaching USD14 per million British thermal units for cement factories, USD7.75 for iron and steel, non-nitrogen fertilisers and petrochemicals, and between USD6.50 and USD6.75 for other industrial activities and petrochemical plants producing ethane and propane mixtures.
The increases do not apply to consumers, whose gas supply contracts already include pricing formulas, the decree said.
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