– Egypt has raised fuel prices by 10% to 17%, effective Friday, impacting the costs of goods and services nationwide.

– The Egyptian government stated that the price adjustment aims to close the gap between the selling prices of petroleum products and their rising production and import costs.

– Diesel prices have increased from 11.5 pounds ($0.23) to 13.50 pounds ($0.25) per liter, while 92-octane gasoline has risen from 13.75 pounds ($0.28) to 15.25 pounds ($0.31). This follows prior hikes in fuel prices and inflationary pressures faced by consumers.

Egypt announced a fuel price increase ranging from 10% to 17%, a decision expected to affect the costs of goods and services across the country, according to Associated Press (AP) news agency.

In an official statement, the Egyptian government explained that this adjustment aims to “narrow the gap between the selling prices of petroleum products and their escalating production and import costs.”

Egyptians are facing significant inflation as they deal with rising daily expenses, which reached new highs over the summer, including a previous 10% fuel price increase, higher subway fares, and a devaluation of the local currency against foreign currencies.

Effective immediately, the new prices show that the cost of diesel—critical for public transportation—has risen from 11.5 pounds ($0.23) to 13.50 pounds ($0.25) per liter. Meanwhile, the price of 92-octane gasoline increased from 13.75 pounds ($0.28) to 15.25 pounds ($0.31).

This marks the latest fuel price hike since July 25, following an earlier increase in March. The government attributed these price adjustments to rising energy import costs due to the local currency’s depreciation and a global surge in fuel prices, particularly influenced by events in the Red Sea region.