Egypt Daily News – Egypt increase the price of gasoline and diesel in Egypt, effective from six o’clock this morning, has drawn attention due to its significant adjustments in various grades of fuel. Here’s a summary of the new prices:
- 80-Octane Gasoline: Increased from 12.25 pounds to 13.75 pounds per liter.
- 92-Octane Gasoline: Now costs 15.25 pounds per liter, up from 13.75 pounds.
- 95-Octane Gasoline: The price has risen to 17 pounds per liter, compared to the previous price of 15 pounds.
- Regular Diesel: Increased to 13.5 pounds per liter from 11.5 pounds.
- Automotive Gas: The price is now 7 pounds per cubic meter, an increase from 6.5 pounds.
For industrial use, the price of diesel supplied for electricity and other industries is set at 9,500 pounds per ton, while automotive fuel gas remains at 7 pounds per cubic meter.
This is the 18th time that fuel prices are raise since 2019.
The government’s decision to raise fuel prices marks the fourth such increase since March, following an expansion of a loan program from the International Monetary Fund (IMF). This increase is part of Egypt’s commitment to reduce fuel subsidies as agreed upon with the IMF and to address the rising costs of production and imports of petroleum products.
The Ministry of Petroleum and Mineral Resources stated that these adjustments are necessary for maintaining a stable supply of petroleum products in the market and mitigating the gap between selling prices and production costs. This approach follows a trend initiated in 2019 aimed at slowly liberalizing fuel prices to eliminate governmental subsidies over time.
