No effect of fuel hikes on food prices: Chambers of commerce

CAIRO – 29 June 2017: Prices of food items will not be affected by the recent hikes in fuel prices, the Federation of Chambers of Commerce (FEDCOC) said Thursday.

The FEDCOC is currently studying new methods to transport products to in the market to avoid effect by fuel prices, undersecretary of the chamber Alaa Ezz told Egypt Today.

“The new system would reduce products transport chain and prevent transporting them several times until they reach the final consumer,” Ezz said.

Earlier this morning, new fuel prices were announced as price of 80-octane gasoline soared from LE 1.60 ($0.08) to LE 3.65 per liter, while the 92-octane increased from LE 3.50 to LE 5.00 per liter.