Prime Minister Mostafa Madbouly said the upcoming increase in fuel prices, expected in October, may be the last major hike if current global price levels hold. He emphasized that even after this adjustment, the diesel subsidy will not be fully removed. Madbouly made these remarks during a dialogue with chief editors of various newspapers and news websites.

For fiscal year (FY) 2025/26, the estimated fuel subsidy is about EGP 75,033 million, marking a 51.4% year-on-year (YoY) decrease as part of the fuel prices reform program, according to the Ministry of Finance.

Reforming fuel prices was a key objective of Egypt’s economic reform program launched in 2016. While the International Monetary Fund (IMF) strongly advocated for the elimination of fuel subsidies, the government has gradually slashed them to safeguard low-income citizens from the resulting inflationary pressures.

Since Egypt embarked on the IMF reform program and due to successive currency devaluations, the gap between domestic fuel prices and their actual cost has widened.

In response, Egypt has adopted a comprehensive plan to close this gap by raising retail fuel prices. The government is committed to ensuring that the prices of gasoline, diesel, and industrial fuel oil reach cost-recovery levels by December 2025. According to the IMF’s fourth review report, prices for other fuels, including butane gas and natural gas for electricity and vehicles, have also been increased.

The last increase in oil prices took place in the second quarter (Q2) of 2025. It was announced in In April 2025 by Egypt’s Fuel Automatic Pricing Committee. The adjusted prices, up from those set in October 2024, were as follows:

95 Octane Gasoline: EGP 19 per liter, up from EGP 17 per liter

92 Octane Gasoline: EGP 17.25 per liter, up from EGP 15.25 per liter

80 Octane Gasoline: EGP 15.75 per liter, up from EGP 13.75 per liter

Diesel: EGP 15.50 per liter, up from EGP 13.50 per liter

Kerosene: EGP 15.50 per liter, up from EGP 13.50 per liter

Mazut (for other industries): EGP 10,500 per ton, up from EGP 9,500 per ton