Egypt raises fuel prices for 4th time as part of IMF deal

CAIRO - 16 June 2018: For the fourth time since 2014, Egypt has raised fuel prices to meet IMF loan's terms that entail the complete removal of fuel subsidies, the Cabinet announced on Saturday (June 16), which corresponds to the second day of Eid El Fitr

95 gasoline prices went up from LE 6.6 (US$ 0.37) per litre to 7.7, while 92 octane gasoline price amounted to LE 6.75 instead of 5 per litre. Prices of gasoline 80's liter increased to LE 5.5 instead of 3.65, the newly-appointed government said in its first move since taking oath Thursday.

The price of diesel will be LE 5.5 a liter instead of 3.65, while the price of the natural gas used for vehicles rose to 2.75 per cubic meter instead of 2.

Meanwhile, government has announced the raising the price of the cooking gas cylinder to LE 50 instead of 30 and the commercial gas cylinder's prices surged to LE 100 instead of 60.

The new pricing officially came into effect on June 16, 2018 at 9:00 AM, as per the government's decision.

The second phase of raising fuel prices was last November. Rising fuel prices and the currency devaluation has led to the sense that fuel price hikes were large.