El-Sisi explained that while the difference between market prices and subsidized fuel prices may seem moderate, the real burden lies in the fact that “the money used for subsidies is borrowed.”
Under the new decision, the price of 95-octane gasoline has risen to EGP21 per liter, up from EGP19, while 92-octane gasoline increased to EGP19.25 per liter from EGP17.25.
“The upcoming hike will be final, and there will be no further increases this year,” he stressed.
Tourism Minister praises initiative, saying that it would contribute to an increase of tourism influx to the country
