Egypt raises fuel prices by up to 30 percent
On Tue, Oct 24, 2023, the Egyptian government increased domestic fuel prices by up to 30%, attributing the rise to global energy pressures stemming from disruptions in the Middle East. These changes impact gasoline, diesel, and natural gas used in…
On Tue, Oct 24, 2023, the Egyptian government increased domestic fuel prices by up to 30%, attributing the rise to global energy pressures stemming from disruptions in the Middle East. These changes impact gasoline, diesel, and natural gas used in vehicles.
The Ministry of Petroleum announced the following price adjustments due to challenges in supply chains, elevated risk levels, and increased shipping and insurance costs:
Diesel: A 17.1% increase to 20.50 Egyptian pounds per litre, up from 17.50 pounds. 80-octane gasoline: A 16.9% increase to 20.75 pounds per litre. 92-octane gasoline: A 15.6% increase to 22.25 pounds per litre. 95-octane gasoline: A 14.3% increase to 24 pounds per litre. Natural gas for vehicles: A 30% increase to 13 pounds per cubic metre.
On Tue, Oct 24, 2023, the Egyptian government increased domestic fuel prices by up to 30%, attributing the rise to global energy pressures stemming from disruptions in the Middle East.
This marks the fourth fuel price increase in Egypt over the past two years, in line with an $8 billion loan agreement with the International Monetary Fund. An earlier increase in October, which was up to 13%, was anticipated to be the final adjustment under this plan.
Based on reporting by Africanews.
