CAIRO, June 29 (Xinhua) -- The Egyptian cabinet announced on Thursday rise of fuel prices as part of the country's strict economic reform program, the Egyptian state TV reported.
The hike in gasoline prices varied from 42.8 to 55.3 percent, while the price of a gas cylinder, which is used at many homes and restaurants, doubled.
"The fuel price hikes take effect from today," said the cabinet in a statement.
Egyptian Prime Minister Sherif Ismail is expected to hold a press conference to further explain the reasons for the decision to raise fuel prices.
The fuel price hike is the second in less than a year since a similar rise in early November 2016 in which fuel prices increased by 34.6 percent to 46.9 percent.
The latest fuel price hike worries many Egyptians as it usually leads to price increase for almost all other commodities as a result.