Egypt Raises Gasoline, Diesel Prices for Second Time in Year

Egypt introduced new fuel prices early Friday, raising costs across all petroleum products, while simultaneously announcing a decision to fix these prices for at least one year in response to domestic and international economic challenges.

The revised prices took effect at 6:00 AM today, following a government decision to adjust rates amid rising global energy costs and regional instability. Despite the increase, the government has assured that there will be no further changes for a minimum of 12 months, aiming to maintain stability for consumers and industries alike.

The updated prices are as follows:

Octane 95: EGP 21.00 per liter (previously EGP 19.00)

Octane 92: EGP 19.25 per liter (previously EGP 17.25)

Octane 80: EGP 17.75 per liter (previously EGP 15.75)

Diesel: EGP 17.50 per liter (previously EGP 15.50)

CNG (for vehicles): EGP 10.00 per cubic meter (previously EGP 7.00)

The Ministry of Petroleum and Mineral Resources emphasized that this decision is part of a broader effort to reduce the import bill, optimize local refinery operations at full capacity, and honor financial commitments to international partners. These steps, officials say, are designed to encourage increased production and minimize the gap between local pricing and actual costs.

While the move is expected to impact transportation and consumer prices in the short term, the government’s price freeze offers a buffer against future market shocks, aiming to create a more stable economic environment over the coming year.