The Egyptian Ministry of Petroleum announced it was raising the prices of all three types of petrol in the country. It remained the prices of other fuels for the period from April to June of this year.

According to the petroleum statement, Egypt raised the price of petrol according to the following:

• Gasoline-95 increased to EGP 8.75 per litre, compared to EGP 8.5 before that.
• Gasoline-92 increased to EGP 7.75 per litre, compared to EGP 7.50 before that.
• Gasoline-80 increased to EGP 6.50 per litre, compared to EGP 6.25 before that.

The ministry’s statement said that the diesel price for the industrial sector had been fixed at EGP 3,900, equivalent to $249 per tonne. The ministry added that the Automatic Pricing Committee for Petroleum Products reviewed the average prices of Brent crude in the global market and the USD’s exchange rate against the EGP from January to March 2021. It confirmed that the committee’s recommendations came in light of the exceptional situations that the world is going through due to the repercussions of the corona pandemic.

This increase in gasoline prices comes for the first time after linking it to the global price 18 months ago, as the automatic pricing committee has been fixing prices for the past year and a half.

The Egyptian government raised fuel prices in the country unprecedentedly as part of its steps to lift subsidies on petrol and fuel prices in general. The government announces that these increases are within the framework of its economic plan imposed by the International Monetary Fund, under which it obtained a $12 billion loan.

Specialists recorded the successive rise in gasoline prices and its impact on the lives of citizens from the increase in commodity prices and the dramatic increase in transportation fares over the past years. Over the past seven years, the price of a litre of gasoline 80 (the most common) jumped from 90 piasters per litre to EGP 6.50, which affects the transportation fares and the price of transporting foodstuffs.