No new rise in retail natural gas prices in Egypt

In a statement, the cabinet said a list of prices for household and commercial units circulating in media outlets reflects prices after hikes that were applied since September 2024.

In tandem, the Ministry of Petroleum and Mineral Resources stated, also on Monday, that the current prices of natural gas, whether designated for households or commercial purposes, have been in effect since September and there were no new hikes.

The ministry stressed it is implementing a program to increase the rates of gas delivery to homes across all governorates to ease the burden on citizens and enable families to benefit from natural gas in their homes.

Many consumers were taken aback by reports in some media outlets about new price hikes in retail natural gas prices only days after Prime Minister Mostafa Madbouly promised the public that there will be no new increases in fuel prices until the end of 2025  if global prices stabilize at an average of $73 per barrel.

The hikes approved in Septmeber range between 15 percent and 25 percent as follows:

- First Tier (0 to 30 cubic meters): From 2.60 pounds to three pounds per cubic meter marking 15.38 percent rise.
- Second Tier (30 to 60 cubic meters): From 3.35 pounds to four pounds per cubic meter marking 19.4 percent rise.
- Third Tier (more than 60 cubic meters): From four pounds to five pounds per cubic meter marking 25 percent rise.

Egypt has raised fuel prices for the third time in October 2024, with octane prices increasing between 10.9 percent and 13.3 percent, and diesel prices rising by 17.3 percent.