Egypt’s New Government Raises Fuel prices

The Ministry of Petroleum and Mineral Resources announced that New Cabinet approved the increase in prices of petroleum products starting from Saturday, 16 June 2018.

Egypt rambled fuel prices to help meet the terms of a $12 billion IMF loan deal, a sharper rise than expected by many struggling with soaring living costs.

Petroleum Minister Tarek El Molla in a press release announced that the price of 92-octane gasoline had been put up 6,75 Egyptian pounds per litre.

Diesel 80-octane – the most commonly used fuel categories – rose to 5.50 pounds per litre.

The government also increased the price of cooking gas cylinders – used mostly by poorer Egyptians to 50 pounds from 30 pounds per cylinder.