Egypt Reduces Diesel Subsidy Further by 14%The Egyptian government has raised the price of diesel by (Egyptian Pound) EGP 1.00 to EGP 8.25 per litre. The government left gasoline(petrol) prices, which are also subsidized, unchanged, considering that it was only increased in March 2023. This increase should peg the subsidy at $2.1Billion (or EGP 64Billion) a year, from $2.64Billion (or EGP80Billion), the Ministry says. Egyptians use diesel as the key fuel of public transport, as well as for vehicles that transport goods and raw materials around the country. North Africa’s largest economy and the Arab World’s most populous country is an energy subsidy state.

Source: The North Africa Journal May 07, 2023 21:50 UTC