Egypt Daily News – Egypt raised fuel prices for the second time this year, as the Ministry of Petroleum and Mineral Resources announced an increase in the prices of all types of gasoline, diesel, and industrial diesel, starting today, Thursday, by rates ranging between 10% and 15%.
The government expects that this increase will save 36 billion pounds ($745 million) in the state budget during the fiscal year 2024-2025, according to a government official. He added that the prices of all types of natural gas, whether domestic or industrial, have been fixed
The government decided to raise the price of a liter of lower quality “80” gasoline by 11.4% to 12.25 pounds, and the price of a liter of “92” gasoline by 10% to 13.75 pounds, with the price of a liter of higher quality “95” gasoline reaching 15 pounds after the increase.
It also raised the selling price of a liter of diesel by 15% to 11.5 pounds, and the selling price of a liter of kerosene increased by the same percentage and value. The price of industrial diesel increased by 13% to 8,500 pounds. The diesel fuel supplied to the electricity and food industries was installed.
Last December, the Egyptian government raised the target of subsidizing petroleum products in the current fiscal year by about 9% to 130 billion pounds.
