Jan 19 2008 |
more articles from
|
Fuel oil prices double
THE GOVERNMENT stealthily decided to raise the price of fuel oil by 100 per cent starting 1 January. One tonne of fuel oil was traded at LE1,000 from LE500 overnight, catching consumers and producers off guard. Although Prime Minister Ahmed Nazif's government was keen on reassuring consumers that the hike will not by any means reflect on the price of baladi bread, a staple food for the populace, experts believe that the decision will have several serious indirect implications.A general sense of anticipation abounds, particularly in sectors which largely depend on this type of energy. These include brick- making and baladi bread bakeries, especially traditional bakeries outside the capital which solely depend on fuel oil as a main source of energy. Meanwhile, the construction sector -- along with its feeding industries -- claims to be paralysed by the abrupt decision.
Waleed Gamaleddin, chairman of the Chamber of Building Materials at the Federation of the Egyptian Industries, noted that the price of red bricks for construction rose from LE180 per 1,000 bricks to LE360 immediately after the decision. "Not to mention the fact that fuel oil produces at least 32 derivatives which represent the main components of different materials, such as asphalt and lubricants," Gamaleddin added..
"Energy efficiency in Egypt is perhaps among the lowest compared to other countries," asserted Salah Hafez, former deputy chairman of the Egyptian General Petroleum Corporation ( EGPC ). "Raising the prices of these sources is certain to compel different industries to monitor their energy losses."
© Al Ahram Weekly 2008
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment