Egypt Raises Petrol Prices by up to 14.3%

Egypt raised domestic petrol prices by up to 14.3% but kept diesel prices unchanged, state media said on Friday.

The state media, citing the official gazette, said the price of 80-octane petrol was raised by 1.25 Egyptian pounds, 92-octane petrol by 1.25 pounds and 95-octane petrol by 1 pound to 10 Egyptian pounds ($0.3241), 11.50 and 12.50 per liter, respectively, Reuters reported.

The diesel price was kept at 8.25 pounds per liter. The decision takes effect from 8 a.m. (0600 GMT) on Friday.

Pricing of fuel has been set under quarterly reviews since 2019, taking account of global markets and the exchange rate, in line with previous commitments to the the International Monetary Fund (IMF).