{"id":627142,"date":"2018-07-24T04:22:23","date_gmt":"2018-07-24T04:22:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/24\/natural-gas-prices-for-household-and-industry-to-rise-by-30-75-as-of-1-august\/"},"modified":"2018-07-24T04:22:23","modified_gmt":"2018-07-24T04:22:23","slug":"natural-gas-prices-for-household-and-industry-to-rise-by-30-75-as-of-1-august","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/24\/natural-gas-prices-for-household-and-industry-to-rise-by-30-75-as-of-1-august\/","title":{"rendered":"Natural gas prices for household and industry to rise by 30-75% as of 1 August"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Natural gas prices for household and industry to rise by 30-75% as of 1 August: <\/strong>The Madbouly Cabinet decided on Saturday to raise the prices of natural gas for household and industrial users by 30-75% as of 1 August, pressing ahead with plans to gradually phase out subsidies under the IMF-backed economic reform program, <a href=\"https:\/\/www.reuters.com\/article\/egypt-economy-gas\/update-1-egypt-hikes-gas-prices-by-up-to-75-pct-in-imf-backed-austerity-plan-idUSL8N1UH0DX\">according to a statement carried by Reuters<\/a>. This translates to an increase of EGP 1.75-3.0 per cbm of gas, depending on the level of consumption. The increase in natural gas prices is meant to correct the pricing imbalance with cooking gas cylinders \u2014 which are used as an alternative to natural gas \u2014 following <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/19\/government-hikes-fuel-prices-by-c-50\/\">last month\u2019s fuel price hikes<\/a>, Oil Ministry spokesman Hamdy Abdel Aziz tells <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1309404\">Al Masry Al Youm<\/a>.<\/p>\n<p>Natural gas users will now be billed at:<\/p>\n<ul>\n<li><strong>EGP 1.75 per cbm for up to 30 cbm<\/strong> of consumption, up from EGP 0.1\/cbm;<\/li>\n<li><strong>EGP 2.50 per cbm for consumption between 30-60 cbm<\/strong>, up from EGP 0.175\/cbm;<\/li>\n<li><strong>EGP 3.0 per cbm for anything over 60 cbm, <\/strong>up from EGP 0.225\/cbm. <\/li>\n<\/ul>\n<p><strong>The hike was accounted for in the state budget for FY2018-19<\/strong>, <a href=\"http:\/\/almalnews.com\/Story\/383535\/59\/%D9%85%D8%B5%D8%AF%D8%B1-%D8%AD%D9%83%D9%88%D9%85%D9%8A-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%BA%D8%A7%D8%B2-%D8%A7%D9%84%D9%85%D9%86%D8%A7%D8%B2%D9%84-%D9%84%D9%86-%D8%AA%D8%AE%D9%81%D8%B6-%D9%81%D8%A7%D8%AA%D9%88%D8%B1%D8%A9-%D8%AF%D8%B9%D9%85-\">government sources told Al Mal<\/a>, adding that the amount allocated to fuel subsidies this fiscal year remains the same at EGP 89 bn, down from EGP 125 bn in FY2017-18.<\/p>\n<p><strong>This will likely not go down well with manufacturers: <\/strong>Rising natural gas prices have been squeezing manufacturers, who make their payments in USD, since the currency was floated back in November 2016. Lobby and industry groups had also tried at various points in time to pressure the government into repricing the cost of natural gas for industry to help them cope with rising expenses, to no avail. EGAS had introduced an <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/19\/egas-looks-to-make-nice-with-manufacturers-with-new-incentive-package-including-lower-fines-easier-payment-terms-for-natural-gas\/\">incentive package back in February<\/a> that offers manufacturers lower fines and easier payment terms on gas supply contracts.<\/p>\n<p><strong>...and everyone else:<\/strong> A number of House representatives have also requested to send a letter to Prime Minister Mostafa Madbouly and Oil Minister Tarek El Molla to explain the reasoning behind the price increases, Rep. Amr El Gohary <a href=\"http:\/\/almalnews.com\/Story\/383677\/19\/%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86%D9%8A%D9%88%D9%86-%D9%8A%D8%B1%D9%81%D8%B6%D9%88%D9%86-%D8%B1%D9%81%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D9%84%D9%84%D9%85%D9%86%D8%A7%D8%B2%D9%84-\">tells Al Mal<\/a>. El Gohary says parliamentarians are incensed that prices were raised despite Egypt approaching natural gas self-sufficiency. Meanwhile, bakers of subsidized bread want to get more out the government as a result of the move, according to <a href=\"http:\/\/almalnews.com\/Story\/383530\/14\/-%D9%85%D8%AE%D8%A7%D8%A8%D8%B2-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D8%B1%D9%81%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%BA%D8%A7%D8%B2-%D8%B5%D8%A7%D8%AF%D9%85-%D9%88%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D9%85%D8%B9--%D9%85%D8%B5%D9%8A%D9%84%D8%AD%D9%8A--%D9%84%D8%A8%D8%AD%D8%AB-%D8%A7%D9%84%D8%AA%D8%AF%D8%A7%D8%B9%D9%8A%D8%A7%D8%AA\">Al Mal<\/a>.<\/p>\n<p><strong>El Sisi urges patience with reforms:<\/strong> The day after the price hikes, President Abdel Fattah El Sisi stressed that the state is pressing ahead with reforms while working to shield the most vulnerable citizens from the burden of the reform program, <a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/430328804153172\">in a speech on Sunday<\/a>. He said that the difficult times Egyptians are facing due to economic reforms are understandable but \u201ccausing chaos and destroying the state\u201d are not justified.<\/p>\n<p><strong>Rumors spreading discontent are the greatest danger to Egypt\u2019s stability, says El Sisi:<\/strong> Egypt\u2019s stability is most threatened by rumors attempting to spread discontent and frustration among the people, El Sisi said. According to the president, the government has tallied some 21,000 \u201cfalse rumors\u201d over the past three months, which he said, along with terror attacks, are part of a \u201cnetwork\u201d aimed at instilling a sense of frustration among Egyptians.<\/p>\n<p><strong>The foreign press\u2019 take:<\/strong> The move \u2014 which follows a <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/19\/government-hikes-fuel-prices-by-c-50\/\">c. 50% hike in fuel prices in June<\/a>, as well as increases to the costs of electricity, pipe water, and transportation \u2014 \u201cis likely to further fan the <a href=\"https:\/\/www.washingtonpost.com\/world\/egypts-powerful-president-is-facing-unusual-dissent-over-rapidly-rising-prices\/2018\/07\/18\/9a921e87-680b-47d5-8d91-f60b10e8f7ca_story.html?noredirect=on&utm_term=.221564340dd1\">flames of popular discontent<\/a>, especially among poor and middle-class Egyptians who have borne the brunt of the government\u2019s economic reform program,\u201d <a href=\"https:\/\/apnews.com\/9bf37033a6824c2088819fed9ff37ce3\/Egypt-hikes-natural-gas-prices-by-up-to-75-percent\">says the Associated Press<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Natural gas prices for household and industry to rise by 30-75% as of 1 August: The Madbouly Cabinet decided on Saturday to raise the prices of natural gas for household and industrial users by 30-75% as of 1 August, pressing ahead with plans to gradually phase out subsidies under the IMF-backed economic reform program, according [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627142","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"42dc2970-17f4-47ea-b3d5-421de8bf5f6a","order":"0","is_powered_by":true,"section_story_id":"4dbd866e-e97a-4c09-8c61-46170e29bc21","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627135],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The Ismail Cabinet will decide in the coming two weeks whether to raise the overdraft limit in the FY2017-18 budget to give itself breathing room in the context of climbing oil prices, Vice Minister of Finance Mohamed Maait tells Enterprise.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544750,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/20\/butane-gas-cylinders-just-got-more-expensive\/","url_meta":{"origin":627142,"position":3},"title":"Butane gas cylinders just got more expensive","author":"enterpriseam admin","date":"20 March 2022","format":false,"excerpt":"Global price hikes hit gas cylinders here at home: The government has hiked butane gas cylinder prices by 7.1%, reaching EGP 75 for household cylinders (from EGP 70) and EGP 150 (from EGP 140) for commercial use, according to a directive published in the Official Gazette (pdf). This comes on\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638661,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/11\/headline-inflation-drops-to-31-59-in-september-monthly-core-rate-at-its-lowest-since-2015\/","url_meta":{"origin":627142,"position":4},"title":"Headline inflation drops to 31.59% in September, monthly core rate at its lowest since 2015","author":"enterpriseam admin","date":"11 October 2017","format":false,"excerpt":"Monthly urban core inflation has recorded its lowest level since December 2015, registering 0.19% in September, according to central bank data. Headline inflation also slowed down to 1.00% m-o-m.On an annual basis, the headline rate dropped to 31.59% (down from 31.95% in August), with core inflation falling to 33.26% (from\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574262,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/03\/industry-requests-another-cut-in-gas-prices-to-usd-3-5-mmbtu\/","url_meta":{"origin":627142,"position":5},"title":"Industry requests another cut in gas prices to USD 3.5\/mmbtu","author":"enterpriseam admin","date":"3 September 2020","format":false,"excerpt":"Industrial players still want to pay less for natural gas\u2026 Chemicals and fertilizer manufacturers are raising the issue of lowering gas prices once again, with Chemical and Fertilizers Export Council passing on a request to the Trade and Industry Ministry to lower the price of gas to USD 3.5\/mmbtu, Khaled\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/39.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=627142"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627142\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/627135"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=627142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=627142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=627142"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=627142"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=627142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}