Petroleum Division Announces Upcoming Fuel Price Changes
The Petroleum Materials Division expects gasoline and diesel prices in Egypt to increase in the upcoming period due to a nearly 50% rise in global oil prices and the impact of international events on the local market. A division official confirmed that the anticipated increase will range between 10% and 15%, and that the decision to raise prices is linked to economic conditions and the country's commitments, with continued subsidies on petroleum products imposing a burden on the general budget. He also pointed out that the Fuel Committee will hold a meeting in October to make a decision, and that the price increase is now a matter of time, as the global situation is influencing the Egyptian market.
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