The Egyptian government announced in the early hours of Tuesday morning that it was raising fuel prices, amid fluctuations in global energy markets due to the repercussions of the war in the Middle East.
The Ministry of Petroleum and Mineral Resources said in a statement that “it has been decided to adjust the prices of some petroleum products and car fuel gas in light of the exceptional circumstances that global energy markets are going through, effective Tuesday, March 10, at 3:00 AM.”
The increases were as follows:
95-octane gasoline from 21 to 24 Egyptian pounds per liter
92-octane gasoline from 19.25 to 22.25 Egyptian pounds per liter
80-octane gasoline from 17.75 to 20.75 Egyptian pounds per liter
Solar fuel costs between 17.5 and 20.5 Egyptian pounds per liter.
Gas cylinders range from 225 to 275 Egyptian pounds for a 12.5 kg cylinder, and from 450 to 550 Egyptian pounds for a 25 kg cylinder.
Car fueling gas ranges from 10 to 13 Egyptian pounds per cubic meter.
The ministry stated in its statement that this comes “in light of the exceptional situation resulting from the geopolitical developments in the Middle East region and their direct effects on global energy markets, which have led to a significant increase in the cost of imports and domestic production. Disruptions in supply chains, increased risk levels, and higher shipping and insurance costs have resulted in a significant jump in global crude oil and petroleum product prices, levels not seen in energy markets for years.”