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Egypt raises price of widely used diesel, other fuel

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Egypt on Wednesday increased the price of its widely used diesel and other fuels in a move expected to further drive up prices of other goods and services. The country, like others, faces steep inflationary pressures in the wake of Russia’s war on Ukraine. In a statement, the country’s petroleum ministry said it would increase prices immediately. The price for a litre of diesel has been hiked from 6.75 Egyptian pounds (.36 USD) a litre to 7.25 Egyptian pounds (.38 USD), an increase of 7.4%. Other types of gasoline saw hikes of the same amount, with higher octane gasoline being hiked by 1 Egypt…

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