Egypt’s Automatic Fuel Pricing Committee has announced new price increases for gasoline and diesel, effective Friday morning, raising fuel prices by around EGP2 per liter for all gasoline types and nearly 13% for diesel.

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 widely used 80-octane gasoline now costs EGP17.25 per liter, compared to EGP15.25 previously.

Diesel prices saw a notable rise of about 13%, reaching EGP17.50 per liter, a move expected to directly impact transportation costs and prices of goods and services in the local market. The committee also raised the price of compressed natural gas (CNG) used as vehicle fuel from EGP7 to EGP10 per cubic meter.

The committee said the adjustment comes as part of its regular quarterly review, which considers several key factors, including the global Brent crude oil average, the exchange rate of the US dollar against the Egyptian pound, and local operating and transport costs.

Prime Minister Mostafa Madbouly previously stated that these increases might be the last if global oil prices remain stable, noting that the government continues to provide partial subsidies for essential products such as diesel and cooking gas cylinders.

The government is pursuing a gradual phase-out of fuel subsidies through the end of 2025 under its economic reform program. The current fiscal year’s budget allocates EGP75 billion for fuel subsidies, down sharply from EGP154 billion last year, and is based on an estimated oil price of $75 per barrel.

The new fuel prices officially took effect at 9:00 a.m. on Friday, October 17.