Egypt Increases Gas Prices for Industries Amid Energy Crisis
Egypt has raised natural gas prices for major industries as part of reforms under an International Monetary Fund (IMF) program. The new prices, effective in May, target energy-intensive sectors like cement, iron, steel, fertilizers, and petrochemicals. This move is part of Egypt's shift from a gas exporter to an importer due to declining output. The country faces rising import costs and currency devaluations, which have increased the cost of dollar-denominated energy imports. The price hike aims to reduce energy subsidies and align with market-based pricing, impacting production costs in key sectors. 
