The government of Egypt has increased domestic fuel prices by up to 30 percent. Officials blamed rising global energy pressures linked to the Middle East conflict.
The new prices apply to gasoline, diesel, and natural gas used in vehicles.
Global Energy Pressures Behind Increase
In a statement, Egypt’s petroleum ministry said supply chain disruptions drove the increase.
The ministry also cited rising shipping risks and higher insurance costs in global oil markets.
These pressures have pushed fuel prices to levels not seen in years.
Diesel and Petrol Prices Increase
Diesel, one of the country’s most used fuels, rose by three Egyptian pounds to 20.50 pounds per litre.
Prices for petrol also increased:
- 80-octane gasoline: 20.75 pounds per litre
- 92-octane gasoline: 22.25 pounds per litre
- 95-octane gasoline: 24 pounds per litre
Meanwhile, natural gas for vehicles recorded the largest increase, rising 30 percent to 13 pounds per cubic metre.
IMF Loan Programme Behind Reforms
Egypt has raised fuel prices several times in recent years as part of an $8 billion loan programme with the International Monetary Fund.
The reforms aim to reduce government fuel subsidies and stabilise the country’s economy.
