Egypt has announced another round of increases in fuel prices as part of its
ongoing economic reform agenda, according to a statement from the Ministry of Petroleum and Mineral Resources. The adjustments, implemented by the Fuel Automatic Pricing Committee for the third quarter, aim to rationalize fuel subsidies and align domestic prices with global market trends.
Effective immediately, the price of 80-octane gasoline has risen to 12.25 Egyptian pounds per liter from 11 pounds, while 92-octane gasoline now costs 13.75 pounds per liter, up from 12.5 pounds. The highest grade, 95-octane gasoline, saw an increase to 15 pounds per liter from 13.5 pounds previously.
Notably, diesel prices experienced the most significant hike, climbing to 11.50 pounds per liter from 10 pounds. Conversely, prices for mazut, a heavy fuel oil used in industries, remained unchanged, according to reports from Xinhua news agency.
Prime Minister Mostafa Madbouly underscored the government’s commitment to gradually reducing fuel subsidies, with the ultimate goal of phasing them out entirely by December 2025. The establishment of the Pricing Committee in 2019 facilitates quarterly assessments of fuel prices, ensuring they reflect international market fluctuations.
The latest adjustment underscores Egypt’s efforts to address fiscal challenges and reduce reliance on subsidies, amid broader economic restructuring initiatives aimed at fostering sustainable growth.
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