Pre-Trading Thoughts

The government has hiked the prices of butane gas cylinders as part of efforts to rationalize subsidies for fuel. The price of household cylinders has gone up 50% to EGP150 ex-factory, while the price of cylinders for commercial use has increased 33.3% to EGP200 ex-factory. The value of the budget savings resulting from the increase in butane cylinder prices are estimated at EGP12 - 14 billion, during the current fiscal year 2024-2025. Egypt's fuel import bill amounted to about USD9.3 billion...