Egypt Watch

The government is considering raising diesel prices for the first time in 3 years

The Egyptian government is studying a proposal from the Ministry of Petroleum to the Council of Ministers to raise diesel prices for the first time in three years.

This coincides with the start of the new fiscal year and the announcement of the sixth increase in gasoline prices.

Reports have expected an increase in the price of a litre of diesel to 7 pounds initially, after it has remained stable at 6.75 pounds since July 2019, and then a gradual increase every three months, similar to the periodic increases in gasoline prices. Also, the price of 80 octane gasoline will rise from 7.5 to 7.75 pounds per litre, 92 octane gasoline from 8.75 to 9 pounds, and 95 octane gasoline from 9.75 to 10 pounds. It is noteworthy that the Ministry of Finance imposes a fixed fee of 30 piasters for every litre of gasoline sold and 25 piasters for every litre of diesel.

The increase in fuel prices in Egypt, especially diesel, means an increase in the prices of all government, private transportation, and commodities when the annual inflation rate is 15.3.