Egyptian government raises fuel prices

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Arab Finance: The Egyptian Ministry of Petroleum and Mineral Resources has decided to raise fuel prices in the local market, according to the Official Gazette.

The price of the 80-octane gasoline increased to EGP 12.25 per liter, while the price of the 92-octane gasoline rose to EGP 13.75 per liter.

Additionally, the price of the 95-octane gasoline has been raised to EGP 15 per liter.

Moreover, the price of diesel has been increased to EGP 11.5 per liter, while the price of kerosene has been set at EGP 11.5 per liter.

Also, the price of mazut went up to EGP 8,500 per ton for all industries except for food production and electricity.

The decision came into effect as of Thursday, July 25th.