After many postponements, Fuel prices are up by EGP 1
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In a move to address mounting economic pressures, Egypt has announced a hike in fuel prices by LE 1 across all gasoline types. The decision, made by the Petroleum Pricing Committee (PPC), comes after several postponements of the increase.
Effective immediately, the price per liter of 80-octane gasoline will rise to LE 11, while 92-octane gasoline will be priced at LE 12.50 per liter, and 95-octane gasoline will cost LE 13.5 per liter. Additionally, the price of diesel will see an increase to LE 10 per liter, with the price of a gas cylinder reaching LE 100.
The decision reflects Egypt's efforts to navigate economic challenges and ensure sustainability in fuel pricing amidst fluctuating global markets. While the hike may impose additional burdens on consumers, it is aimed at addressing fiscal demands and maintaining stability in the energy sector.
The move underscores the government's commitment to fiscal reforms amid a backdrop of evolving economic dynamics. However, it also highlights the importance of implementing measures to alleviate the impact on vulnerable segments of society, ensuring equitable access to essential resources.