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Egypt Raises Fuel Prices as It Pushes Painful Overhaul

  • Gasoline prices up by as much as 55%; cooking fuel doubles
  • Moves were expected, but could push inflation higher this year
The price for a liter of 80 octane gasoline or diesel rose to 3.65 pounds (20 cents) from 2.35 pounds.

The price for a liter of 80 octane gasoline or diesel rose to 3.65 pounds (20 cents) from 2.35 pounds.

Photographer: Peter Macdiarmid/Getty Images
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Egypt raised fuel prices by as much as 55 percent and doubled the cost of cooking gas, pushing ahead with reforms that are designed to revive the economy but are also deepening the hardship that’s already rampant in the country.

The price for a liter of 80 octane gasoline and diesel rose to 3.65 pounds (20 cents) from 2.35 pounds, the cabinet said in a statement on Thursday, while 92 octane fuel increased to 5 pounds from 3.5 pounds. Butane canisters, a staple in household cooking, doubled to 30 pounds.