The Egyptian government intends to recalculate petroleum subsidies in the budget for the next fiscal year 2024-2025, after moving the prices of all categories of gasoline and diesel last night, according to statements by Egyptian Finance Minister Mohamed Maait.
About 72 hours ago, the Egyptian Ministry of Finance revealed some indicators of the 2024-2025 budget, which included support for petroleum products amounting to more than 147 billion pounds, compared to 130 billion pounds expected in the current fiscal year.
Last night, Egypt raised the prices of all types of gasoline by one pound, and also increased the price of diesel by more than 21% to 10 pounds, from 8.25 pounds, whether for electricity production companies or the price of consumer delivery to car service and supply stations, and raised the prices of 92 gasoline from 11.5 pounds to 12.5 pounds. Gasoline 95 prices range from 12.5 pounds to 13.5 pounds.
The increase will be effective starting today, Friday, March 22, 2024, in accordance with the decisions published in the Official Gazette.
