Egypt Denies Fuel Price Hike Rumors Amid Rising Energy Costs

The Ministry of Petroleum and Mineral Resources in Egypt has denied rumors of a fuel price hike, stating that no decision or recommendation has been made by the Automatic Fuel Pricing Committee. The committee is responsible for reviewing the automatic pricing mechanism for petroleum products, but it has not convened to date.

The ministry also addressed reports of LPG cylinder shortages, saying that supplies are operating normally across the country. Refineries are producing and supplying LPG at normal rates, while transportation and filling at bottling plants are proceeding regularly.

An informed source had previously hinted that the government may apply a new increase to retail fuel prices in a similar range to the 14-17% hike applied in March. The decision would be driven by volatile global oil prices and regional tensions, and could be taken within the current quarter of FY2026/2027.

The source noted that Egypt's energy import bill has increased due to recent surges in global crude benchmarks, paired with rising marine freight and insurance premiums driven by regional security risks. This has expanded the state's subsidy gap, making it necessary for the government to adjust domestic retail fuel prices.