Egypt: Egypt on Tuesday raised the prices of several petroleum products and natural gas for vehicles, citing exceptional conditions in global energy markets and rising import and production costs.

According to Qatar News Agency, in a statement, Egypt's Ministry of Petroleum and Mineral Resources announced that the price of 95-octane gasoline increased from EGP 21 to EGP 24 per liter. Meanwhile, 92-octane gasoline rose from EGP 19.25 to EGP 22.25 per liter, and 80-octane gasoline went from EGP 17.75 to EGP 20.75 per liter.

The price of diesel saw an increase from EGP 17.5 to EGP 20.5 per liter, and the cost of a 12.5 kg butane cylinder rose from EGP 225 to EGP 275. Additionally, the price of natural gas for vehicles was raised from EGP 10 to EGP 13 per cubic meter.

The ministry indicated that these price adjustments are in response to exceptional conditions in global energy markets, which are influenced by geopolitical developments in the Middle East. These factors have a direct impact on energy supply and costs.

Supply chain disruptions, elevated risk levels, and higher maritime shipping and insurance costs have contributed to a sharp rise in global crude oil and petroleum product prices, reaching levels not seen in energy markets for years, the ministry noted.

The ministry also emphasized that these measures are part of efforts to responsibly manage current global challenges, ensuring energy security and maintaining the stability of the domestic market.