Fuel
Egypt has no plans to increase energy prices this year, Deputy Prime Minister for Economic Affairs Hussein Issa announced at an American Chamber of Commerce (AmCham) panel discussion in Cairo on Tuesday.
UN says Israel blocked most aid moves via Kerem Abu Salem, leaving teams able to collect fuel only as medical shipments pile up.
Egypt’s Ministry of Petroleum and Mineral Resources announced an emergency adjustment to fuel prices on Tuesday, responding to the sharp rise in global energy costs triggered by the ongoing U.S.-Israeli conflict with Iran.
Egypt’s 127th “Zad Al-Izza” convoy heads to Gaza via Rafah, carrying food, medicine, fuel and shelter supplies.
The fuel is intended to help restart operations at bakeries and hospitals in the besieged Gaza Strip.
Engineer Moataz Atef, spokesperson for the Ministry of Petroleum and Mineral Resources, stated that the ministry is monitoring the impact of the decision to increase tariffs and fuel prices on the cost of transporting products and goods, which affects prices in local markets.
Egypt's Energy Strategy 2040, which was approved by the Cabinet after its amendment, aims to produce 68,000 megawatts of renewable energy, whether solar, wind or water, said Salmawy.
These adjustments reflect significant increases since the beginning of the year, with diesel prices rising by 63 percent and octane prices by over 30 percent.
The new price list was issued Thursday.
Minister of Finance Mohamed Mait considered subsidizing fuel a "crime."
Egypt does not own facilities for liquefying natural gas, a process known as liquefaction, having previously operated a floating station in Ain Sokhna for gas imports before 2018. Egypt utilizes gas to fuel power plants as well as for cooling operations.
This comes after the increase was postponed multiple times.
Head of the State Information Service (SIS) Diaa Rashwan detailed Tuesday the size of aid that entered Gaza since the outbreak of fighting on October 7 through Egypt's Rafah Border Crossing.
Around 150,000 liters of diesel have entered to Gaza through the Rafah border crossing amid Egyptian efforts to resume the flow of fuel to the war-battered strip.
Minister of Petroleum, Tarek El Molla, issued the decision for the new pricing to be implemented from Friday morning.
Head of the Suez Canal Economic Zone, Walid Gamal El-Din, revealed that the zone has received more applications from companies wishing to participate in ship bunkering operations in the ports affiliated with the Suez Canal Economic Zone, whether with fossil fuels or green fuels.
It is the beginning to turn Egypt into a hub of green marine fuels.
Egyptian Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker, confirmed that Egypt aims to reach 60 percent of dependence on renewable energy by 2040.
The slight increase in in petrol prices follows a small reduction observed in the previous month, as reported by UAE media outlets
In the near future, green fuel bunkering will be available as well.
