Egypt Projects Over 37% Surge in Fuel Import Bill to $5.5 Bn

Egypt expects its fuel import bill to climb sharply in the next fiscal year, driven by rising global oil prices linked to the conflict involving Iran, according to a senior government official.

The country has earmarked about $5.5 billion to secure its fuel needs for fiscal year 2026–2027, representing an increase of 37.5% compared with the current year’s target, the official told Asharq, speaking on condition of anonymity.

The official said the increase reflects growing pressure on global energy markets as geopolitical tensions in the Middle East continue to affect crude oil prices.

Under its import plan, Egypt aims to bring in around 2.22 million tons of diesel at a cost of roughly $2 billion, alongside 1.65 million tons of liquefied petroleum gas (LPG) valued at about $1.05 billion. It also plans to import 1.83 million tons of 95-octane gasoline, costing approximately $1.62 billion, to help meet domestic demand.

The imports are intended to bridge the gap between local production and consumption needs across key sectors, including electricity generation, industry, and transportation.

Egypt’s annual consumption of petroleum products is estimated at around 55 million tons, with the country partially dependent on imports to cover the shortfall.

Energy import costs have long been a source of pressure on Egypt’s economy, which remains sensitive to fluctuations in global commodity prices and currency movements.