Egypt raised oil prices by 25 cents to 45 cents.
The country cited shortages in oil markets caused by disruptions of deliveries from Iran and the Soviet Union. It also said the decline in the dollar’s value was a factor in the decision to raise prices for the second consecutive month. Oil is sold for dollars on world markets, and the dollar’s recent slide against other leading currencies means that foreign producers are earning less for each barrel of oil that they sell.
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