{"id":662548,"date":"2025-03-18T00:00:00","date_gmt":"2025-03-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/18\/new-fuel-price-hikes-in-the-cards\/"},"modified":"2025-03-18T00:00:00","modified_gmt":"2025-03-18T00:00:00","slug":"new-fuel-price-hikes-in-the-cards","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/18\/new-fuel-price-hikes-in-the-cards\/","title":{"rendered":"New fuel price hikes in the cards?"},"content":{"rendered":"

Good afternoon, everyone, and a happy hump day to you all. <\/strong>We\u2019re bracing ourselves for yet another hike in fuel bills next month, and following news of international acquisitions and industry shakeups.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Fuel bills could go up again next month: <\/strong>The government is expected to raise fuel prices in April as it looks to resume the phase-out of fuel subsidies, a government source told EnterpriseAM. The fuel pricing committee is expected to raise prices by EGP 1-1.25 to bridge the gap between selling prices and production costs. The anticipated move is part of the government\u2019s plan<\/a> to have energy prices reach cost recovery levels by the end of the year.<\/p>\n

REMEMBER-<\/strong> The committee last raised fuel prices in October<\/a>, bumping up bills by 8-17% in what was the third and final fuel hike of 2024. <\/p>\n

More hikes to follow: <\/strong>The fuel pricing committee is expected to meet four times this year as it works to end subsidies by the year\u2019s end, our source said.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Death toll from Israel\u2019s renewed airstrikes on Gaza rises: <\/strong>Israeli airstrikes launched<\/a>across Gaza<\/a> today have killed 404 people and injured 562, according to updated statistics<\/a> by the Palestinian Health Ministry. The attack broke a nearly two-month ceasefire between Israel and Hamas, killing hope that it would be extended into a second phase that was initially scheduled for the start of March. Israeli Prime Minister Benjamin Netanyahu said he instructed<\/a> the military to take \"strong action\" against Hamas due to their unwillingness to free the remaining hostages and their rejection of ceasefire proposals.<\/p>\n

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Google parent company Alphabet has acquired Israeli cybersecurity<\/strong> firm Wiz, marking the tech giant\u2019s largest ever acquisition.<\/strong> Last year, negotiations fell through due to concerns over the host of antitrust cases<\/a> filed against Alphabet, but earlier this year, the Google parent laid an offer of USD 32 on the table, reports Reuters<\/a>, which went through earlier this afternoon. During their last funding round in 2022, Wiz raised USD 1 bn at a USD 12 bn valuation from investors, and the company\u2019s valuation reportedly jumped to USD 16 bn in an employee tender offer<\/a> late last year, making the USD 32 bn offer a substantial premium.<\/p>\n

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