Egypt Eyes Higher Gas Prices for Industry Amid Import Costs Surge

The Egyptian government is considering raising natural gas prices for energy-intensive industries by more than $1 per million British thermal units starting in September, a senior Finance Ministry source revealed.

In May, the government increased gas prices for industrial and energy-intensive sectors by an average of $2 per million British thermal units, bringing the price to $14 for cement plants, $7.75 for iron and steel, non-nitrogen fertilizer and petrochemical industries, and $6.75 for other industrial activities.

The source cited a sharp rise in the gas import bill and doubled costs of securing supplies due to global prices climbing amid the US war on Iran as reasons for the potential price hike.