The price of diesel fuel, widely used for transporting goods and passengers across the country, has risen from EGP 11.5 to EGP 13.5 per litre, increasing by 17.3 percent.

Octane prices have also gone up.

Octane 80 price increased by 12.2 percent to settle at EGP 13.75 per litre, up from EGP 12.25.

Meanwhile, Octane 92 increased by 10.9 percent, going up from EGP 13.75 to EGP 15.25 per litre.

Octane 95 increased by 13.3 percent to settle at EGP 17 per litre, up from EGP 15.

Kerosene has also increased by 17.3 percent, reaching EGP 13.5 per litre, up from EGP 11.5.

Mazut used for industrial purposes also increased by 11.7 percent, rising from EGP 8,500 to EGP 9500 per ton.

However, prices of Mazut supplied for power plants and food industries have been kept unchanged, according to the petroleum ministry.

Egypt last raised the prices of various octane grades in July 2024, following a previous increase in March 2024, marking the third adjustment in the year.

The ministry said its pricing committee's next session will be held in six months.

The recent price adjustments reflect a significant rise since the start of the year, with diesel prices increasing by 63 percent and octane prices by over 30 percent.

The move is attributed to the global oil price surge triggered by the expanding conflict in the Middle East, tensions in the Red Sea, and the Russian-Ukrainian war.

Brent crude oil prices rose to over $80 per barrel earlier in October but have fallen to nearly $74 on 18 October.

Egypt is engaged in an $8 billion loan programme with the International Monetary Fund (IMF), which stipulates phasing out fuel subsidies to lower the budget deficit.

Prime Minister Mostafa Madbouly has already announced that the government plans to remove all fuel subsidies by the end of 2025.