Egypt: Residents struggle amid price hikes

By Rédaction Africanews 

Many Egyptians are fretting over price hikes that have seen the cost of everyday goods surge.

It comes after the government increased fuel prices, blaming soaring global energy markets due to the U.S.-Israeli war on Iran.

El-Sayed Mohamed, a truck driver, is among those affected. “Prices are high because vendors use trucks to transport vegetables from wholesalers, which increases the costs. Today, the cost of transporting vegetables has risen to 3,000-4,000 Egyptian pounds [78-57 USD] from the previous 2,500 pounds,” he said.

Price hikes of up to 30 percent were announced overnight Monday.

Both vendors and buyers are struggling amid the price hikes.

Umm Mohamed, a vegetable seller, said, “citizens are not accepting the price increases. Demand is not what it used to be like before, when we receive something at a cheap price, you sell, but with the price hikes, the consumer bears the burden and therefore doesn’t buy. It is expensive.”

Nada Hamed, an Egyptian citizen, said, ”prices have risen since yesterday; the price of a kilo of cucumbers has increased to 40 pounds [from 15-20 Egyptian pounds], as well tomatoes and other basic commodities.”

The hikes, imposed on diesel, natural gas and gasoline, were imposed after oil prices rose to over 119 dollars on Monday, as tankers remain blocked in the Strait of Hormuz.

Situated between the Persian Gulf and the Gulf of Oman, the strait is viewed as the world’s most important gateway for oil transport.