On Friday, Egypt introduced its latest round of fuel subsidy cuts, ultimately leading to a spike in domestic prices.

According to Reuters, the prices have increased somewhere between 16 percent and 30 percent in an attempt to bring them "into line with their real cost."  

The decision - effective July 5 - comes as the country's $12 billion IMF-backed economic reform program is coming to an end. In 2016, the government turned to the International Monetary Fund (IMF) for a loan after struggling to overcome its economic crisis. As part of the deal, the Egyptian government agreed to remove all subsidies - which have eaten up a big portion of the budget - from most fuel products by June 15 after steadily increasing its fuel prices in the last few years. 

The recent fuel hike is reported to be the fifth and final spike as Egypt prepares to receive the last $2 billion from the monetary body.

The price of the widely used petrol (92 octane grade) rose by 18.5 percent a liter; the price of lower quality petrol (80 octane) rose by 22.7 percent per liter, as reported by Reuters.

Also, higher grade fuel (95 octane) fuel increased by 16.1 percent a liter, diesel by 22.7 percent, and cooking gas cylinders by 30 percent. The price of one cooking gas cylinder (for domestic purposes) costs 130 Egyptian pounds ($7.8). 

The spike in fuel prices are the latest attempt by the nation to curb government spending. Egypt devalued its currency in 2016, driving inflation levels to the highest in a decade.

Naturally, Twitter users launched an Arabic hashtag to vent their frustration with the news. 

"In Egypt, if you have a dream ... shove it up your a**"

"Whether expensive or cheap, it's all going down the drain"

Many are mocking a statement repeatedly uttered by the country's President Abdel Fattah Al Sisi in which he tells Egyptians they should accept the circumstances for "greater economic stability."

"You have to understand, son, that everything that's happening is for our own good"

"Taking the bus on Monday after today's fuel hikes"

"If you were planning a weekend road trip, have fun"

Old is gold, or what?

"We're in this together till 2030"