Egypt increased fuel prices due to currency depreciation and global energy surge, with diesel rising from 8.5 to 10 EGP/L.
Egypt increased fuel prices due to the depreciation of its local currency and global energy price surge. Diesel prices rose from 8.5 to 10 Egyptian pounds ($0.18 to $0.21) per liter. The price adjustments are needed to alleviate strain on the state budget and ensure fuel availability. The government is also pledging to protect vulnerable populations from the effects of these price hikes through increased social welfare payments and subsidies for public transportation.
March 22, 2024
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