14 Hrs
Source:
مصراوي
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Egypt Fuel Prices in 2026? Ex-Minister's View
The article discusses former Minister of Petroleum Osama Kamel's expectations regarding the rise in fuel prices in Egypt in 2026. He explained that the government prefers to delay any price increases until the end of next December amid the current fluctuations in global oil markets. He noted that the price of a barrel of oil exceeded an average of $91 during the first quarter of the fiscal year, compared to a scheduled price in the budget of $75, resulting in additional burdens exceeding 40 billion Egyptian pounds on the budget. He also pointed to rising transportation and insurance costs, which elevate the final price of imported oil. Additionally, Egypt's oil and gas imports surpassed $22 billion during the first nine months of 2026 due to a production and consumption gap approaching 45%. Kamel emphasized the importance of energy transition and reducing dependence on traditional fuels by increasing the use of solar and wind energy and developing the electric vehicle sector, with a study underway to determine how to implement these measures before the end of the year.
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