Egypt has increased domestic fuel prices by as much as 30 percent, citing “exceptional” global energy pressures linked to the ongoing conflict in the Middle East.
The price adjustments, announced on Tuesday by the country’s petroleum ministry, affect gasoline, diesel, and natural gas used in vehicles. Authorities said the move was necessary due to disruptions in energy supply chains and rising global costs.
In a statement, the ministry explained that the decision was driven by higher risk levels in international markets and increased maritime shipping and insurance costs. These factors, officials said, have pushed petroleum product prices to levels not seen in years.
Global oil prices have been volatile in recent days. Prices briefly climbed above $119 per barrel on Monday before falling to around $84 after US President Donald Trump said the war involving the United States, Israel, and Iran could end soon.
Under the new pricing structure, diesel — one of the most widely used fuels in Egypt — increased by three Egyptian pounds, representing about a 17.1 percent rise. The new price is 20.50 pounds ($0.38) per litre, up from 17.50 pounds.
Gasoline prices have also gone up across all grades. The price of 80-octane gasoline rose by about 16.9 percent to 20.75 pounds per litre. Meanwhile, 92-octane gasoline increased by roughly 15.6 percent to 22.25 pounds per litre.
The highest grade, 95-octane gasoline, climbed by approximately 14.3 percent, bringing the new price to 24 pounds per litre.
Natural gas used in vehicles recorded the biggest increase. Its price jumped by 30 percent, reaching 13 pounds per cubic metre.
Egypt has implemented several fuel price increases in recent years as part of an $8 billion loan programme with the International Monetary Fund aimed at reforming the country’s economy and reducing subsidies.
Over the past two years, the government has raised fuel prices four times under the programme. A previous increase of up to 13 percent in October was initially expected to be the final adjustment under the IMF-backed plan.
However, the latest hike signals continued pressure on Egypt’s energy sector as global market uncertainties persist.
