Subsidies for 95 octane fuel to be lifted soon, says Petroleum Ministry source

Sources at the Petroleum Ministry expect that President Mohamed Morsy would lift subsidies on 95 octane fuel within days.

On Saturday, Morsy had said consumers 95 octane do not need subsidies.

The sources added that this would not save much from the subsidy budget, but said it was a symbolic step towards the plan to ration subsidies beginning after the next parliamentary elections, and a gauge of the reaction to higher prices for vital goods.

The sources also said the distribution of butane gas cylinders would require “smart cards,” which ensure only those with need receive subsidized cylinders.

Morsy had also announced a new system to distribute 120,000 cylinders to homes.

Edited translation from Al-Masry Al-Youm

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