Arab states hit by rising oil prices
Oil has risen to yet another record high – just shy of $121 dollars a barrel.
One knock on effect is that some Arab countries are removing state subsidies, which are costing billions of dollars a year.
Jordan removed fuel subsidies in February and, since then, oil prices have shot up by 82 per cent.
Syria too is cutting subsidies, trying to soften the blow with a 25% hike in wages.
And now Egypt has announced a 40 to 50 percent hike in fuel prices – just two days after saying wages would go up by a third.