Egypt raised electricity prices for higher-use residential consumers and commercial users starting in April.

The North African nation's electricity ministry said on Saturday that a severe global energy crisis linked to the war in the Middle East had prompted price revisions.

The ministry said lower-consumption households would not be affected and that the increases would target higher-use segments as part of efforts to ensure continued electricity supply across all sectors.

The joint US-Israeli war on Iran has disrupted shipping through the Strait of Hormuz, which facilitates the transportation of approximately 20% of the world's oil from the Gulf nations, including Kuwait, Saudi Arabia, Qatar, and the United Arab Emirates.

Egypt's energy import bill more than doubles

Iran, which has retaliated the US-Israeli attacks, has technically closed the strait since the war broke out on February 28, causing a major oil shortage globally as ships keep off the now-dangerous route.

Egypt's energy import bill has more than doubled since the outbreak of the US-Israeli war with Iran, Prime Minister Mostafa Madbouly said in mid-March.