I would say that local wine in hotels and restaurants will cost between LE 85 - LE 150. Imported wine is much more expensive and hence not worth the price. However, you can bring in three bottles of wine or spirits per adult when you arrive, ( often more as the customs are not that interested in catching someone with an extra bottle ). Then, within the first 24 hours of your arrival ( actually within the day after you entered according to the date stamp in your passport ) you may go to the duty free shop in Naama Bay and get another 3 bottles of wine or spirits per adult ( but you must take your passports with you ). The duty free price for plonk is also pretty steep - basically same as the spirits.
Now, if that is not enough then you can buy from certain shops in Naama and Maya Bays local wine at around LE 50 per bottle. One of those shops is the duty free shop itself. You can buy local products anyday of your stay.
There is also a duty free shop at Nuweiba Port but the selection is not very good.