{"id":550301,"date":"2022-10-23T03:36:05","date_gmt":"2022-10-23T03:36:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/no-quarterly-fuel-price-hike-for-the-first-time-in-18-months\/"},"modified":"2022-10-23T03:36:05","modified_gmt":"2022-10-23T03:36:05","slug":"no-quarterly-fuel-price-hike-for-the-first-time-in-18-months","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/23\/no-quarterly-fuel-price-hike-for-the-first-time-in-18-months\/","title":{"rendered":"No quarterly fuel price hike for the first time in 18 months"},"content":{"rendered":"

<\/a> A state committee left fuel prices unchanged <\/strong>at its latest quarterly meeting, defying expectations of another raise and ending a streak of six consecutive quarters of petrol price hikes, the Oil Ministry said in a statement<\/a> yesterday. Fuel prices have seen a 23-28% hike since last April<\/a>.<\/p>\n

A further price hike had seemed likely: <\/strong>Former deputy chief of the Egyptian General Petroleum Corporation, Medhat Youssef, had said<\/a> that the government would likely hike prices for the final quarter in response to rising prices.<\/p>\n

The pause could be a welcome one amid price pressures: <\/strong>The committee\u2019s decision comes after September data showed inflation hitting a four-year high<\/a> of 15.0%, with transport costs up 17.9% y-o-y.<\/p>\n

All prices will remain the same following <\/strong>across-the-board hikes<\/a><\/strong> last quarter: <\/strong><\/p>\n