Egypt increases fuel prices following depreciation of local currency

CAIRO (AP) — The Egyptian government raised fuel prices on Friday in a move that is bound to exacerbate inflationary pressures on an already-struggling population. The new prices were announced on the Cabinet’s Facebook page and came into effect Friday morning. The price of diesel, the main fuel for transport of people and goods, rose from 8.25 Egyptian pounds ($0.18) to 10 pounds ($0.21) per liter. Egypt, a net importer of energy, increased the price of 95 octane gasoline to 13.5 Egyptian pounds ($0.29) per liter from 12.5 pounds ($0.27)....