Egypt clarifies gasoline price hike

The Egyptian Ministry of Petroleum has confirmed that the information circulating on social media regarding a rise in fuel prices in Egypt is false. The current prices have not changed, and no official decision has been made regarding any adjustments. They explained that the figures being circulated are counterfeit. These statements come amidst a decline in oil prices and a depreciation of the Egyptian pound against the dollar, which could impact energy import costs. The government indicated that the Automatic Pricing Committee has not yet convened, and that current prices remain unchanged. It is expected that Egypt will raise fuel prices in September 2026, which could increase inflation to 14.4% that year.

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