Egypt has announced a significant increase in fuel prices, marking the third such hike this year. The Ministry of Petroleum revealed that prices for a wide range of fuel products were raised early today as part of the government’s effort to reduce fuel subsidies.
Diesel, one of the most commonly used fuels in Egypt, saw a 17% price jump, rising to 13.50 Egyptian pounds ($0.28) per litre, up from 11.50 pounds. Gasoline prices also increased between 11% and 13%, depending on the grade. The price of 80-octane gasoline rose to 13.75 pounds, 92-octane to 15.25 pounds, and 95-octane to 17 pounds.
Prime Minister Mostafa Madbouly had previously indicated in July that petroleum prices would continue to rise gradually until the end of 2025, citing the growing burden of subsidies on the government due to rising fuel consumption.
Although Egypt’s fuel pricing committee traditionally meets quarterly to review prices, it announced today that the next review will take place in six months, delaying the usual schedule.
