{"id":629410,"date":"2018-05-30T04:11:32","date_gmt":"2018-05-30T04:11:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/"},"modified":"2018-05-30T04:11:32","modified_gmt":"2018-05-30T04:11:32","slug":"is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/","title":{"rendered":"Is gov\u2019t hinting fuel prices could rise more than previously expected?"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Is gov\u2019t hinting fuel prices could rise more than previously expected? <\/strong>The Ismail Cabinet has reportedly been importing fuel at a price of USD 75\/bbl, according to documents, which state-owned <a href=\"http:\/\/english.ahram.org.eg\/NewsContent\/3\/12\/301411\/Business\/Economy\/Cairo-publishes-document-highlighting-fuel-import-.aspx\">Ahram Online claims<\/a> to have obtained. As a result, the government is expected to pay EGP 103.8 bn for fuel imports. Vice Minister of Finance Mohamed Maait had <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/20\/govt-preparing-to-tweak-budget-for-higher-oil-prices\/\">told Enterprise<\/a> that the Cabinet will be deciding in the coming few days whether to raise the overdraft on the FY2017-18 on account of higher oil prices, which the government assumed would average EGP 55\/bbl. Oil prices have been trading at levels not seen since 2014, with Brent crude prices breaching the USD 80\/bbl mark.<\/p>\n<p><strong>If the document is genuine, the Ismail government may be prompted to raise fuel prices at a steeper rate than it would like<\/strong> if it is going to meet the targeted budget deficit of 8.4% of GDP. While it has not said how much the hikes will be, the government did announce that it was planning on cutting fuel subsidies 19.1% to EGP 89.08 bn <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/16\/budget-debate-officially-kicks-off-at-the-house\/\">in the FY2018-19 budget<\/a>. That plan, however, assumes an oil price of USD 67\/bbl. <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/24\/fuel-prices-could-rise-by-as-much-60-next-fiscal-year\/\">We noted last week<\/a> that analysts, including from Capital Economists, see fuel prices rise 60% next fiscal year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Is gov\u2019t hinting fuel prices could rise more than previously expected? The Ismail Cabinet has reportedly been importing fuel at a price of USD 75\/bbl, according to documents, which state-owned Ahram Online claims to have obtained. As a result, the government is expected to pay EGP 103.8 bn for fuel imports. Vice Minister of Finance [&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-629410","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"c3384a23-ee57-4fc0-a37f-ce1afbe9583a","order":"0","is_powered_by":true,"section_story_id":"b2f42c3b-e211-4e72-9021-267385c67c6d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[629403],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is gov\u2019t hinting fuel prices could rise more than previously expected? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is gov\u2019t hinting fuel prices could rise more than previously expected?\" \/>\n<meta property=\"og:description\" content=\"Is gov\u2019t hinting fuel prices could rise more than previously expected? The Ismail Cabinet has reportedly been importing fuel at a price of USD 75\/bbl, according to documents, which state-owned Ahram Online claims to have obtained. As a result, the government is expected to pay EGP 103.8 bn for fuel imports. Vice Minister of Finance [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-30T04:11:32+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Is gov\u2019t hinting fuel prices could rise more than previously expected?\",\"datePublished\":\"2018-05-30T04:11:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/\"},\"wordCount\":219,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/\",\"name\":\"Is gov\u2019t hinting fuel prices could rise more than previously expected? 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- EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/","og_locale":"en_US","og_type":"article","og_title":"Is gov\u2019t hinting fuel prices could rise more than previously expected?","og_description":"Is gov\u2019t hinting fuel prices could rise more than previously expected? The Ismail Cabinet has reportedly been importing fuel at a price of USD 75\/bbl, according to documents, which state-owned Ahram Online claims to have obtained. As a result, the government is expected to pay EGP 103.8 bn for fuel imports. Vice Minister of Finance [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2018-05-30T04:11:32+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Is gov\u2019t hinting fuel prices could rise more than previously expected?","datePublished":"2018-05-30T04:11:32+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/"},"wordCount":219,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["EnterpriseAM","SPEED ROUND"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/","url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/","name":"Is gov\u2019t hinting fuel prices could rise more than previously expected? - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2018-05-30T04:11:32+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/30\/is-govt-hinting-fuel-prices-could-rise-more-than-previously-expected\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Is gov\u2019t hinting fuel prices could rise more than previously expected?"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":628983,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/20\/govt-preparing-to-tweak-budget-for-higher-oil-prices\/","url_meta":{"origin":629410,"position":0},"title":"Gov\u2019t preparing to tweak budget for higher oil prices?","author":"enterpriseam admin","date":"20 May 2018","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t preparing to tweak budget for higher oil prices? 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":599001,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/16\/egypt-looking-at-usd-65-70-bbl-in-fuel-hedge-set-to-take-effect-in-july\/","url_meta":{"origin":629410,"position":1},"title":"Egypt looking at USD 65-70\/bbl in fuel hedge set to take effect in July","author":"enterpriseam admin","date":"16 June 2019","format":false,"excerpt":"Gov\u2019t looking at USD 65-70\/bbl in fuel hedge contracts set to take effect in July: The finance and oil ministries have started renegotiating the USD 70\/bbl price they had agreed on under fuel hedging contracts set to take effect next month, a government source told the local press. 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The government is targeting GDP growth of 6% in its next fiscal year, up from 5.5% this fiscal year. The\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":625694,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/govt-selects-firm-to-sign-fuel-hedging-contract\/","url_meta":{"origin":629410,"position":4},"title":"Gov\u2019t selects firm to sign fuel hedging contract","author":"enterpriseam admin","date":"13 August 2018","format":false,"excerpt":"Gov\u2019t selects firm to sign fuel hedging contract: The ministries of finance and oil have settled on the firm which will sign fuel hedging contracts with the government, a government source told Enterprise. 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