El-Sisi: Egypt did not want to burden citizens with ‘inevitable’ fuel price hikes

CAIRO – 14 March 2026: President Abdel Fattah El-Sisi said the state did not wish to pass the burden of a hike in petroleum product price onto citizens amidst the ongoing regional escalation but stressed that some tough measures are “unavoidable.”

El-Sisi’s remarks come two weeks into the US-Israeli war, with retaliatory Iranian strikes against several countries in the region killing dozens, disrupting oil supplies, and deepening Middle East instability.

‘Essential Measures, Negative Sentiments’

During an annual Egyptian Family Iftar gathering on Saturday, El-Sisi said the state acknowledges the pressures faced by Egyptians in light of “essential” economic measures the government had to take to safeguard national economy.

“I am aware that there are negative sentiments regarding the recent increase in petroleum product prices,” El-Sisi said.

He added that this measure “was not something the state wished to impose on the people or burden them with.” However, “realities sometimes require difficult measures that have no alternative, in order to avoid harsher and more dangerous outcomes.”

Sisi stressed that any government decision is carefully considered and chosen as the least costly option for citizens.

 

He also referred to commentary in local media suggesting that the government has not been transparent or has failed to fulfill promises, stressing that not every desired measure can be implemented under current economic constraints.

The president said Egypt has faced several crises over the past five years stemming from external wars, whose repercussions the country had to absorb despite not being a wealthy nation and having a population of about 120 million.

He added that the state launched a comprehensive economic reform program in 2016, but since 2020 Egypt has faced a series of difficult developments.

This included the loss of around $10 billion in annual revenues from the Suez Canal, equivalent to about LE 500 billion, which has affected the government’s financial capacity.

El-Sisi called on the government to provide clearer explanations to the public regarding economic policies to ensure transparency and better understanding among influential voices.

‘Fuel Price Hike Inevitable’

The president said the government’s recent decision to raise fuel prices was “inevitable.”

He, however, emphasized that Egypt’s overall situation remains stable and that authorities have not had to impose load-shedding or limits on energy consumption.

El-Sisi noted that power plants and energy facilities account for the largest portion of petroleum products, with Egypt’s annual petroleum consumption reaching about $20 billion, or roughly LE 1 trillion.

He underlined Egypt’s energy ambitions aiming to generate 42% of electricity from renewable sources by 2030, and potentially exceeding that target ahead of schedule.

The president warned that if citizens were required to pay the full cost of electricity production, electricity bills could increase fourfold compared with current levels, without generating any profit for the state.

 

He stressed the state’s commitment to improving citizens’ lives and urged Egyptians to reflect on the ongoing developments across the region.

El-Sisi said the government cannot continue borrowing foreign currency to finance energy imports and other essential commodities, warning that such a path would lead to a cycle of mounting debt unless decisive measures are taken.

Maintaining Basic Goods’ Prices

Despite the economic pressures, he said the state remains committed to avoiding increases in the prices of basic goods and is monitoring markets to prevent exploitation.

He instructed the government to take strict action against violators and bring them to trial, reiterating his directive to study the possibility of referring price manipulators to military courts.

At the same time, the state will continue providing subsidized goods to the most vulnerable families within available resources, he added, stressing Egypt’s social responsibility toward its citizens.

El-Sisi directed the government to accelerate the launch of a new social protection package aimed at low- and middle-income groups to provide greater support during the current critical period.

‘Unity amid Challenges’

“Reform is not a choice but a necessity,” he said, adding that building a strong economy is the true guarantee for the country’s future and that of its people.

The president called on Egyptians to remain united amid mounting challenges.

 

“We must stand together and stay vigilant, because the region is changing, and some countries are lost due to miscalculations.”

He reassured people that Egypt “will remain strong and resilient against anyone who seeks to undermine it or harm its interests and standing.”