Egypt Maintains Subsidized Bread Prices, Adjusts Fuel Costs in Response to Global Trends

Fuel prices are set to be adjusted in line with global rates following multiple postponements.

By: Mohamed Zain

Fri, Mar. 22, 2024

Under directives from Egypt's President Abdel Fattah El-Sisi to Prime Minister Dr. Mostafa Madbouly, it has been decided that the subsidized bread price will remain unchanged, with the government covering the difference for bakeries operating on diesel and gas.

Fuel prices are set to be adjusted in line with global rates following multiple postponements.

Effective immediately, diesel prices will increase to 10 Egyptian pounds from 8.25, while gasoline prices will rise by one pound per octane number.

Additionally, the price of a butane gas cylinder will increase to 100 Egyptian pounds from 75 pounds.

This decision comes amid rising global oil prices due to conflicts in Gaza and the Russo-Ukrainian War.

Subsidies for gasoline, diesel, and other petroleum products have reached approximately 119.419 billion Egyptian pounds in the current budget, which began implementation last July, marking an increase of around 61.325 billion pounds.

The government has also doubled gas connections to households, reaching over 6 million units out of 14.2 million.

Moreover, natural gas has been introduced to 81 new areas, including 33 in Upper Egypt.