The Ministry of Petroleum and Mineral Resources announced on Tuesday an increase in the prices of several petroleum products and natural gas for vehicles, citing exceptional conditions in global energy markets.
The new prices came into effect at 3:00 am on Tuesday, 10 March, as follows:
- 95-octane: from EGP 21 to EGP 24 per litre
- 92-octane: from EGP 19.25 to EGP 22.25 per litre
- 80-octane: from EGP 17.75 to EGP 20.75 per litre
- Diesel: from EGP 17.5 to EGP 20.5 per litre
- Cooking gas cylinders (12.5 kg): from EGP 225 to EGP 275
- Cooking gas cylinders (25 kg): from EGP 450 to EGP 550
- Natural gas for vehicles: from EGP 10 to EGP 13 per cubic meter
The petroleum ministry said the price increases come in light of the exceptional situation caused by geopolitical developments in the Middle East and their direct impact on global energy markets.
According to the statement, current disruptions in supply chains, rising risk levels, and higher maritime shipping and insurance costs have pushed global prices of crude oil and petroleum products to levels not seen in years.
These factors, the ministry emphasized, have significantly increased the cost of imports and local production.
The increase in fuel prices in Egypt on Tuesday, the first in 2026, comes after Prime Minister Mostafa Madbouly approved a set of measures to reduce government spending and rationalize energy consumption amid regional war.
PM Madbouly affirmed on Monday that the government is working to secure sufficient fuel supplies for power plants, industry, and other domestic uses.
Egypt’s fuel pricing mechanism links domestic fuel prices to global crude oil prices and production costs.
Fuel prices are also set based on global price movements and changes in the US dollar–Egyptian pound exchange rate.
According to the system, price adjustments should not exceed a 10 percent increase or decrease in a single review.
Late in 2025, the government announced that it had no plans to increase fuel prices in 2026 after the last increase in December 2025.
Last Tuesday, three days after the start of the US-Israeli war on Iran, the USD-EGP exchange rate climbed over 50 for the first time since the outbreak of the Russia-Ukraine war in 2022.
On Monday, the USD-EGP exchange rate closed at $1/EGP 52.72.
In tandem, oil prices have surged since the US and Israel launched their war on Iran, climbing above $100 a barrel for the first time since the Russian-Ukrainian war started in 2022.
The spike has been driven largely by disruptions to shipping through the Strait of Hormuz, a key route for global energy supplies.
The petroleum ministry’s statement stressed that any exceptional measures are being taken in response to current global challenges, while maintaining energy security and stability in the local market as a top priority.
Egypt imports a significant share of its energy needs and remains sensitive to global fuel price fluctuations, which directly affect domestic inflation, subsidy costs, and public finances.
In 2025, Egypt’s gas imports accounted for around 40 percent of Egypt’s total import bill, while fuel
imports made up about 52 percent, reaching $21 billion.
Over the past five years, Egypt’s imports of liquefied natural gas (LNG) have increased by more than
300 percent, rising from EGP 15.5 billion in 2021 to EGP 356.5 billion in 2026.
Petroleum imports in Egypt reached $6.4 billion in the first quarter of fiscal year 2025/2026, including around $1.1 billion in natural gas and $3.42 billion in crude oil.
Meanwhile, exports increased by about eight percent to $1.3 billion, driven by a $31.6 million rise in natural gas exports and a $57.8 million increase in crude oil exports. https://english.ahram.org.eg/NewsContent/3/16/563687/Business/Energy/Egypt-raises-fuel-prices-amid-global-energy-market.aspx