The Egyptian government has required foreign ships frequenting at Alexandria Port to use low-sulfur fuel, effective May 1, 2025.

Egypt is set to begin negotiations with the International Monetary Fund (IMF) soon, aiming to extend the timeline for implementing fuel and electricity subsidy cuts.

The recent fuel price increases imposed by the Egyptian government will not be reflected on the price of subsidized bread, Minister of Supply and Internal Trade Sherif Farouk stated.

The Egyptian government is expected to achieve EGP 80 billion in fuel savings by the end of the current fiscal year (FY) following the recent hike in fuel prices by 11% to 17%.

The Egyptian government will not hike fuel prices further within the coming six months, Prime Minister Moustafa Madbouly stated in a press conference during his visit to Minya on October 19th.

The Egyptian government has obliged foreign yachts to pay for fuel at the global price, in favor of the Egyptian General Petroleum Corporation (EPPC).

Egypt’s fuel imports rose 11.8% year on year (YoY) during the first nine months of 2024, valuing at $10.5 billion from $9.4 billion.

EgyptAir has fully paid off its 13-year accumulative debts of EGP 10 billion, owed to the Egyptian General Petroleum Corporation (EGPC), at the end of the elapsed fiscal year (FY) 2023/2024.

The Egyptian Ministry of Petroleum and Mineral Resources has decided to raise fuel prices in the local market.

Subsidies for petroleum products in Egypt surpassed EGP 100 billion ($2 billion) in the first 10 months of the current fiscal year (FY) 2023/2024.

Egyptian Prime Minister Mostafa Madbouly has assigned Ministers of Electricity and Petroleum to study the possibility of ending the electricity load reduction plan by November or December at the latest.

Egypt is considering importing liquefied natural gas (LNG) to avoid fuel shortfalls during the summer, although the current tensions in the Red Sea pose a challenge.

Subsidies for petroleum products in Egypt rose by around 9% year on year (YoY) to EGP 72 billion in the first half (H1) of the current fiscal year (FY) 2023/2024.

The Egyptian government has raised the targeted fuel subsidies for the current fiscal year (FY) 2023/2024 by 9% to EGP 130 billion.

Petroleum subsidies in Egypt dropped by 2% year on year (YoY) to EGP 58 billion during the elapsed fiscal year (FY) 2022/2023.

Egypt consumes about 12 million tons annually of diesel fuel and about 6.7 million tons of gasoline, according to the latest data of the Central Agency for Public Mobilization and Statistics (CAPMAS) for the FY2019/20.