Egypt has announced significant increases in fuel prices, raising the cost of several petroleum products by between 14% and 17%, as global energy markets face mounting pressure linked to tensions in the Middle East.
In a statement released on Tuesday, the Ministry of Petroleum said the decision reflects the exceptional geopolitical situation in the region, particularly the impact of the ongoing US-Israeli conflict with Iran on global oil and gas supply.
The move follows remarks by Prime Minister Mostafa Madbouly, who earlier warned that Egypt could adopt extraordinary economic measures if global fuel prices continued to surge due to the regional crisis.
Under the new pricing structure, diesel — one of the most widely used fuels in Egypt — increased by 3 Egyptian pounds, rising from 17.50 pounds to 20.50 pounds per litre. Gasoline prices also climbed sharply, with 80-octane reaching 20.75 pounds, 92-octane rising to 22.25 pounds, and 95-octane increasing to 24 pounds per litre.
The increase comes as global oil and gas prices climb due to disruptions in Middle East energy exports, including attacks on shipping routes and energy facilities that have affected production across several countries in the region.
Egypt has been gradually reducing energy subsidies as part of economic reform programmes backed by the International Monetary Fund (IMF). Since 2016, Cairo has implemented subsidy cuts while expanding social protection measures under successive IMF loan agreements, including an $8 billion programme approved in 2024.
Source: TRT Africa
