Egypt’s Ministry of Petroleum and Mineral Resources has announced a significant price hike for butane gas cylinders. Domestic use cylinders now cost EGP 150 (USD 3.09), up from EGP 100 (USD 2.06), representing a 50% increase, while commercial use cylinders rose to EGP 200 (USD 4.12) from EGP 150 (USD 3.09), marking a 33% rise, according to state media outlet Al-Ahram. Additionally, the price of a ton of mazut supplied to power plants increased by 160%, now costing EGP 6,500 (USD 133), compared to EGP 2,500 (USD 51) previously. Egypt’s fuel imports have also seen a rise, with shipments worth approximately USD 9.3 billion (EGP 451.4 billion) in the first eight months of 2024, up from USD 8.3 billion (EGP 402.8 billion) during the same period in 2023, reflecting a 12% increase. The Egyptian General Petroleum Corporation (EGPC) reported that it contracted to import petroleum materials worth USD 1.1 billion (EGP 53.4 billion) in June 2024, compared to USD 922 million (EGP 44.7 billion) in June 2023. In March, Egypt saw its first fuel price hike, followed by a second increase in July, with prices rising by 10-15%. Prime Minister…
