Egypt Faces Inevitable 10-15% Hike in Gasoline and Diesel Prices, Official Warns

Hassan Nasr, the Head of the General Division for Petroleum Products at the Federation of Egyptian Chambers of Commerce (FEDCOC), has predicted a 10 to 15 percent increase in gasoline and diesel prices in the near future.

Speaking during a phone-in interview with "Hadith al-Qahira" (Cairo Talk) on the "al-Qahira wal Nas" (Cairo and the People) channel, Nasr stated that a price adjustment is inevitable. He noted that the fuel pricing committee is scheduled to meet this October to review current rates.

When asked about the possibility of prices remaining unchanged, Nasr replied, "No, the increase is definitely coming," citing fluctuations in global energy markets. Discussions regarding the hike have been ongoing for about two months, coinciding with a roughly 50 percent rise in global oil prices that will rapidly impact Egypt.

The division head highlighted the heavy financial burden the state bears due to fuel subsidies, while emphasizing that the government also takes citizens’ socioeconomic circumstances into account when adjusting prices. Maintaining current price levels, he added, would place an even heavier strain on the state budget.