Petrol and Diesel Could Rise 10–15% After a Pricing Committee Meets This Month, Industry Official Says

Petrol and diesel prices in Egypt could rise by 10 to 15 percent in the coming period, the head of the General Division for Petroleum Products at the Federation of Egyptian Chambers of Commerce, Hassan Nasr, said in a phone-in with the programme "Hadith al-Qahira" on the al-Qahira wal Nas channel, according to Egypt Independent.

Nasr said the fuel pricing committee is scheduled to meet this October to review rates. Asked whether prices might stay as they are, he replied: "No, the increase is definitely coming."

He said discussions about a rise in petrol and diesel prices have been running for about two months, coinciding with a roughly 50 percent rise in global oil prices compared with the previous period — a shift he expects to reach Egypt quickly. He also said the state carries a heavy financial burden from fuel subsidies, while taking citizens' socioeconomic circumstances into account when prices are adjusted.

This is a forecast from an industry body, not a decision: no announcement has come from the pricing committee or the petroleum ministry, no date has been given for the committee's meeting, and Nasr gave no figures for individual grades of fuel.

For this coast, fuel is the price underneath most other prices. Diesel and petrol set what residents pay for microbuses and taxis, and what operators pay to run airport transfers, excursion coaches and dive boats out of Hurghada, Safaga and Marsa Alam. An increase at the pump does not stay at the pump.