US EditionEgypt Hikes Fuel Prices up to 30% as Iran War Sends Global Oil Soaring
Fuel prices rose 14-30% due to global disruptions linked to the Iran war, with government measures targeting energy security and subsidy phase-out under IMF reforms.
- Egypt's Ministry of Petroleum said overnight Monday price hikes took effect at 3am local time, raising domestic fuel prices on Tuesday for the first time this year.
- Facing regional geopolitical shocks, officials described an 'extraordinary situation' in global energy markets driven by supply disruptions, higher shipping and insurance costs, and crude surging to over $119 this week.
- All fuel types rose between 14 and 17 per cent, with 95‑octane petrol at 24 Egyptian pounds and diesel at 20.50 pounds a litre; compressed natural gas for cars jumped 30 per cent to 13 pounds, while domestic gas cylinders rose about 22 per cent.
- Vendors report many Egyptians are struggling as transport costs rise to 3,000 Egyptian pounds and cucumbers cost 40 pounds since yesterday.
- Prime Minister Mostafa Madbouly ordered electricity-saving measures, a crackdown on power theft, and warned profiteers would face military courts while expanding domestic production under IMF reforms.
14 Articles
14 Articles
Egypt: Residents struggle amid price hikes
Egyptians are fretting over price hikes that have seen the cost of everyday goods surge. It comes after the government increased fuel prices, blaming soaring global energy markets due to the U.S.-Israeli war on Iran.
Egypt hikes fuel prices up to 30% as Iran war sends global oil soaring
Egypt has raised domestic fuel prices by up to 30 per cent as the Iran war drives global oil prices higher, forcing the government to adjust energy costs amid mounting pressure on its import bill and IMF-backed subsidy reforms
Egypt raises fuel prices up to 30% as Iran war pushes up oil
Petrol and diesel rose by between 14 and 17 per cent
Egypt Raises Fuel Prices by Up to 30% Amid Global Energy Pressures - Latest Nigeria News
Egypt has increased domestic fuel prices by as much as 30 per cent, citing “exceptional” global energy pressures linked to the ongoing conflict in the Middle East which has disrupted oil supplies and shipping routes. Akahi News gathered that the new price adjustments, announced by Egypt’s petroleum ministry on Tuesday, affect gasoline, diesel and natural […] The post Egypt Raises Fuel Prices by Up to 30% Amid Global Energy Pressures appeared fir…
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