Egypt to Subsidize Diesel Amid Rising Petrol Prices

Egypt plans to keep diesel prices subsidized while raising petrol prices. The decision comes after a recent domestic fuel price hike of up to 15%, with diesel prices increasing notably ahead of an IMF review, rising from 10 to 11.50 Egyptian pounds per litre.

In a recent announcement, Egyptian Prime Minister Mostafa Madbouly revealed the government's strategy to maintain diesel subsidies by increasing other petrol prices. This statement was made during a televised roundtable discussion with journalists on Tuesday.

The decision follows a substantial domestic fuel price hike implemented last week, which saw prices rise by up to 15%. Notably, diesel prices experienced the most significant increase, climbing from 10 Egyptian pounds to 11.50 per litre.

The fuel price adjustments come in the run-up to an International Monetary Fund (IMF) review, highlighting the economic pressures and strategic financial decisions being made by the Egyptian government.