Egypt’s Ministry of Petroleum and Mineral Assets has introduced a major worth hike for butane gasoline cylinders. Home use cylinders now price EGP 150 (USD 3.09), up from EGP 100 (USD 2.06), representing a 50% enhance, whereas industrial use cylinders rose to EGP 200 (USD 4.12) from EGP 150 (USD 3.09), marking a 33% rise, in accordance to state media outlet Al-Ahram.
Moreover, the worth of a ton of mazut equipped to energy crops elevated by 160%, now costing EGP 6,500 (USD 133), in comparison with EGP 2,500 (USD 51) beforehand.
Egypt’s gasoline imports have additionally seen a rise, with shipments value roughly USD 9.3 billion (EGP 451.4 billion) within the first eight months of 2024, up from USD 8.3 billion (EGP 402.8 billion) throughout the identical interval in 2023, reflecting a 12% enhance.
The Egyptian Normal Petroleum Company (EGPC) reported that it contracted to import petroleum supplies value USD 1.1 billion (EGP 53.4 billion) in June 2024, in comparison with USD 922 million (EGP 44.7 billion) in June 2023.
In March, Egypt noticed its first gasoline worth hike, adopted by a second enhance in July, with costs rising by 10-15%.
Prime Minister Mostafa Madbouly acknowledged that petroleum costs will proceed to rise regularly till December 2025 as the federal government goals to succeed in a break-even level for gasoline subsidies.
