Egypt on Tuesday raised the prices of several petroleum products and natural gas for vehicles, citing exceptional conditions in global energy markets and rising import and production costs.
In a statement, Egypt's Ministry of Petroleum and Mineral Resources said the price of 95-octane gasoline increased from EGP 21 to EGP 24 per liter, while 92-octane gasoline rose from EGP 19.25 to EGP 22.25 per liter and 80-octane gasoline from EGP 17.75 to EGP 20.75 per liter.
The price of diesel was raised from EGP 17.5 to EGP 20.5 per liter, while the price of a 12.5 kg butane cylinder increased from EGP 225 to EGP 275. The price of natural gas for vehicles was also raised from EGP 10 to EGP 13 per cubic meter.
The ministry the price adjustments come amid exceptional conditions in global energy markets, driven by geopolitical developments in the Middle East and their direct impact on energy supply and costs.
It added that supply chain disruptions, elevated risk levels, and higher maritime shipping and insurance costs have contributed to a sharp rise in global crude oil and petroleum product prices, reaching levels not seen in energy markets for years.
The ministry stressed that the measures are part of efforts to manage current global challenges responsibly, while ensuring energy security and maintaining the stability of the domestic market.
According to data released by the Central Bank of Egypt on March 9, the average exchange rate of the US dollar against the Egyptian pound stood at EGP 52.72.