Egyptian Minister Denies Fuel Price Hikes

The government will not raise the prices of subsidised fuel even when rationing 'smart cards' are introduced, Osama Kamal, minister of petroleum told state-owned MENA news agency.

The main aim behind the introduction of the card system is the fair allocation of subsidised fuel and not raising its prices, the minister said.

The minister denied media reports that the government would raise gas prices coinciding with the implementation of the 'smart card' system.

He noted that the prices that were announced in several newspapers are estimates of the cost price of fuel products before being subsidised.

"Prices outside of the specified subsidised quotas will be decided upon implementation of the new system", explained Kamel.

The quotas, which will be implemented through a card system guaranteeing drivers a specific amount of subsidised fuel, are due to start in April just as the country is set to hold parliamentary elections.