Egypt holds fuel prices steady as ministry denies hike rumors

Egypt's Petroleum Ministry denied rumors of fuel price increases, confirming current prices remain in effect while high global oil prices pressure the state budget.

• The Petroleum Ministry denied social media reports of new fuel prices, stating the pricing committee has not met and no increase has been approved.
• Former Petroleum Minister Osama Kamal said he expects the government will not raise fuel prices before the end of 2026, citing global market uncertainty.
• Kamal said the budget assumed $75 per barrel, while the July–September average reached about $91, adding 16 billion pounds in costs.
• Kamal said Egypt's oil and gas imports exceeded $22 billion in the first nine months of 2026, amid a production-consumption gap near 45%.