on Friday, the official gazette said, pressing ahead with a promise it made to the International Monetary Fund more than a year ago as part of a $3 billion financial support agreement.
It also promised to make up for a slowdown in such increases over the previous year. But it subsequently hiked prices only once, in March 2023. The IMF this month expanded the financial support agreement to $8 billion to help Egypt overcome shocks to its economy caused by war in Gaza and after the government renewed its commitment to the reform measures, including a sharp devaluation of the currency.The official gazette, citing the petroleum ministry, said a quarterly pricing committee raised petrol prices on Friday by 1.00 Egyptian pound per litre, with 80 octane rising to 11.00 pounds, 92 octane to 12.50 pounds and 95 octane to 13.
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