Egypt raises fuel prices

The move follows oil prices reaching a seven-year high on the back of supply coordination by OPEC and Russia.
An Egyptian petrol station worker counts cash in Cairo on June 29, 2017.
An Egyptian petrol station worker counts cash collected from customers in Cairo on June 29, 2017. Egypt announced a new sharp increase in fuel prices as it slashed government subsidies in a tough IMF-backed reform program. - KHALED DESOUKI/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

The Egyptian government raised the prices of several types of vehicle fuel today. 

The per liter price of 80-octane gasoline rose from 7 to 7.25 Egyptian pounds, 92-octane gasoline rose from 8.25 to 8.50 pounds and 95-octane gasoline rose from 9.25 to 9.50 pounds. The price of diesel fuel remains 6.75 pounds per liter, the Ministry of Petroleum and Mineral Resources said in a statement. 

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