Egypt imposes energy-saving curbs as Hormuz closure hits fuel supply
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Egypt imposes energy-saving curbs as Hormuz closure hits fuel supply
"From 28 March, Prime Minister Mostafa Madbouly announced that emergency energy-saving measures will run for one month to reduce consumption and ease pressure on supplies."
"The closure of the Strait of Hormuz has disrupted a route that carries about 20 percent of global oil and liquefied natural gas, leading to sharply rising fuel prices."
"Egypt's monthly natural gas import bill jumped from $560 million before the war to $1.65 billion at the start of the conflict, indicating severe economic pressure."
"Tourism, which accounts for about 8.5 percent of the economy, may be discouraged by the nearby conflict and official warnings urging caution over possible spillover."
Starting 28 March, Egypt will enforce emergency energy-saving measures for one month to reduce consumption amid rising fuel costs from the Strait of Hormuz closure. Restaurants, cafés, and shopping malls will close by 9pm, while government offices will shut at 6pm. Street lighting will be reduced, and roadside advertising screens will be turned off. Fuel prices have surged, with Egypt's natural gas import bill increasing significantly. Tourism, which had seen a rise in international arrivals, may be impacted by the ongoing conflict and new energy measures.
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