Egypt Announces First Increase in Fuel Prices in 2024 ...Egypt

For the first time in 2024, Egypt has announced an increase in fuel prices in an effort to reduce the gap between production costs and selling prices, the Ministry of Petroleum and Mineral Resources said in an official statement on Friday, 22 March. The recent liberalization of the exchange rate and rising transportation costs, especially due to Red Sea incidents, have significantly increased the cost of imported petroleum products, widening the gap between production costs and selling prices to new highs. The price of diesel has increased by EGP 1.75 per liter, from EGP 8.25 to EGP 10. The price of all octane grades has also risen by EGP 1 per liter: Octane 80 is now EGP 11 per liter, Oct

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Last updated : 22 March 2024 clock 05:40 PM

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Egypt Announces First Increase in Fuel Prices in 2024 ...Egypt

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