CAIRO, Oct. 17 (Xinhua) -- Egypt on Friday raised domestic fuel prices for the second time in 2025 as part of the government's economic reform policies aimed at reducing subsidies and securing loans from the International Monetary Fund (IMF), the Ministry of Petroleum and Mineral Resources said in a statement.
The ministry added that it will freeze fuel prices for at least one year following the increase "as a result of the events taking place locally, regionally, and globally."
Prices were raised by 10.5 percent to 12.9 percent across a range of petroleum products, the statement said. Diesel prices rose to 17.50 Egyptian pounds (0.37 U.S. dollars) per liter from 15.50 pounds. The Fuel Automatic Pricing Committee also adjusted the price of 80-octane gasoline to 17.75 pounds per liter from 15.75 pounds, 92-octane to 19.25 pounds from 17.25 pounds, and 95-octane to 21 pounds from 19 pounds.
The new prices took effect on Friday at 06:00 local time (0300 GMT).
The IMF has urged the Egyptian government to cut fuel, electricity, and food subsidies while expanding social safety nets under an 8-billion-dollar loan agreement signed in March 2024.
In July 2024, Prime Minister Mostafa Madbouly outlined the government's plan for gradual fuel price adjustments aimed at ending fuel subsidies by December 2025. ■
