Egyptians gather at a petrol station on July 5, 2014 in Cairo as the government drastically raised fuel prices to tackle a bloated subsidy system. AFP PHOTO / MAHMOUD KHALED
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Egypt's military said it would use its buses to transport civilians and sell food at a discount amid concerns that a weekend decision to raise energy prices will fuel a surge in the cost of consumer goods.Subsidies consume about 25 percent of state spending in Egypt.Prime Minister Ibrahim Mahlab told a news conference July 5 that Egypt spent 687 billion pounds ($96 billion) on energy subsidies over the past decade, and will save 51 billion pounds from the new measures.Under the new pricing, 95-octane gasoline increased to 6.25 pounds a liter from 5.85 pounds, while 80-octane, which many drivers favor, rose 78 percent to 1.60 pounds.
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