Is a new increase in Egypt's fuel prices imminent following the Prime Minister's statements?
Rising fuel prices in Egypt have become a growing public concern, especially following Prime Minister Mostafa Madbouly's statements during the weekly cabinet meeting which raised questions about the possibility of completely lifting fuel subsidies before the end of 2025.
As markets await the decision of the Automatic Petroleum Pricing Committee in April, expectations vary regarding the possibility of a new increase in fuel prices, given ongoing economic pressures and rising global oil prices, as well as fluctuations in the US dollar exchange rate against the Egyptian pound.
Is there a date for the fuel price increases?
According to the government's announced policies, the Automatic Pricing Committee meets every three months to review fuel prices, and the new prices are expected to be announced in April.
This step comes as part of the government's plan to achieve gradual balance between fuel costs and their actual price, according to official statements.
Cabinet spokesperson Mohamed al-Homsany confirmed during a phone interview with the 'Sada al-Balad' TV channel that the state will continue to subsidize diesel and butane gas even with the increase in octane prices, given their direct impact on the prices of daily goods and services for citizens.
Current octane and diesel prices in Egypt:
95-Octane: LE17 per liter.
92-Octane: LE15.25 per liter.
80-Octane: LE13.75 per liter.
Diesel: LE13.50 per liter.
Kerosene: LE13.50 per liter.
Mazut for industries: LE9,500 per ton.
Natural gas price for vehicle fueling: Seven LE per cubic meter.
Current Butane cylinder prices in Egypt:
12.5 kg cylinder: Official price LE 150, and sold at some retailers for LE 170.
25 kg cylinder: Official price LE 200, and sold for LE 220.
Will subsidies be lifted on diesel and butane gas?
The Prime Minister confirmed that the government is seeking to gradually lift subsidies on petroleum derivatives, but partial subsidies will remain in place for diesel and butane gas cylinders.
He also explained that the difference will be made up from the profit margin of other products, without impacting low-income citizens.
Edited translation from Al-Masry Al-Youm
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