Author: Hatem Maher and Ahmed Tolba
Egypt implemented a significant increase in fuel prices just days before the International Monetary Fund (IMF) conducts a crucial review of its loan programme for the country. The official gazette announced that prices of petrol and diesel went up, with 80 octane reaching 12.25 Egyptian pounds ($0.25) per litre, 92 octane at 13.75 pounds, and 95 octane at 15 pounds. Diesel prices also saw a notable increase to 11.50 Egyptian pounds ($0.24) from 10 pounds. The government’s decision to raise fuel prices is in line with its commitment to reduce fuel subsidies, as stipulated by the IMF loan agreement. Prime…