Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    ADCB launches ClimaTech Accelerator 2025    Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board    Egypt's FRA approves first digital platform for real estate fund investments    Egypt signs 15-year deal with Deutsche Bahn-El Sewedy consortium to run high-speed rail network    Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt fuel problem stops, as black market vanishes
Published in Bikya Masr on 07 - 04 - 2012

CAIRO: The oil shortages in Egypt's governorates which crippled the activity of many vital sectors is retreating, as ministry of interior intensifies its effort to stop smuggling the fuel and selling it on the black market.
Lots of Egypt's governorates witnessed long queues of trucks, minibuses, agricultural tractors and lorries lining up to get fuel causing heavy congestion on major roads and blocked traffic for long hours.
Egypt has been repeatedly suffering oil shortages for the past three years around this time of year, especially after 25th Jan revolution, due to government's poor planning, and rumors, which help the crisis goes bigger” an analyst told Bikyamasr.com.
“When the government has begun to watch the black market, the crisis has been solved gradually” he added.
Hussin Gomma, an Egyptian business expert forecast that the problem may come back again to hit a lot of places in Egypt, if ministry of interior will not keep track of black market.
He also blamed for the ministry of petroleum for this crisis, as it should make an emergency plan to overcome these obstacles, which threaten a vital part of our daily life, transportation.
According to the Ministry of Petroleum, Egypt's local production of fuel covers 75 percent of the country's consumption needs, while the rest is covered through imports.
“I believe this problem created by the authorities. They are still following the exact same steps of the previous regime,” Mohamed Hussin, an Egyptian citizen said.
“Fuel shortage seems to be a prelude by the authorities to hike prices or an attempt to take people away from political platforms” another citizen told us.
“Petroleum products provided to stations have begun increasing their gasoline supplies to 5.21 million liters per day, 22 percent higher than usual quantities,” a private source in Ministry of Petroleum told Bikyamasr.com.
Lots of economic problems has hit the Egyptian economy recently, as Egypt's foreign reserves, which tumbled from around $36 billion at the end of 2010 to about 15 billion at the end of March, may lead to unsolved problems for current government.
Days into an increasingly acute fuel shortage, makes the Egyptian to feel the squeeze, scuffles and knife fights have broken out among a large slices of Egyptian society these past few weeks, but as presidential elections is so near, we may end in a good results, after matters will be settled.


Clic here to read the story from its source.