Prime Minister Mostafa Madbouly revealed on Saturday that there will be no additional fuel price hikes until the end of 2025, provided global oil prices stabilize at an average of $73 per barrel. Madbouly confirmed that fuel prices will remain unchanged for the next six months, as the government strives to reduce the impact on citizens. Diesel prices, crucial for transporting goods and passengers, rose from LE 11.5 to LE 13.5 per liter, marking a 17.3 percent hike. These adjustments reflect significant increases since the beginning of the year, with diesel prices rising by 63 percent and octane prices by over 30 percent. Brent crude oil prices peaked at over $80 per barrel in early October before dropping to around $74 by mid-month.

Source: Egypt Today October 20, 2024 11:52 UTC