3-Egypt raises fuel prices for the 3rd time in one year2024 -Lana247935

 

For the third and last time in 2024, the Ministry of Petroleum announced that the price of petrol and diesel would rise by up to LE 2 starting from Friday, October 18, 2024.

Gasoline has raised from 13.75 to 15.25 and this Amendments issued by the Automated Fuel Pricing Committee (FAPC)  

The ministry announced that the next meeting of its pricing committee will be held in six months.

The ministry said in a statement that this decision comes within the plan to guarantee the availability of petroleum products, regulate market performance according to established pricing processes ,and decrease the gap between the selling prices of petroleum products and the high expenses of their production and import 

The state plans to progressively raise the cost of petroleum products in order to phase out petrol prices by the end of 2025, according to Prime Minister Mostafa Madbouly, in order to reduce the impact on the state's overall budget.