Egypt raised fuel prices for the first time in 2025, increasing rates by up to 15%, state media reported Friday. The move is part of the government’s agreement with the IMF to reduce subsidies under an $8 billion support package. Gasoline prices rose sharply, with 80 octane reaching 15.75 pounds and 95 octane rising to 19 pounds per litre. Diesel increased by 2 pounds to 15.50, while cooking gas prices jumped from 150 to 200 pounds per cylinder. These hikes follow the IMF’s recent $1.2 billion loan disbursement to Egypt. The country has agreed to reach full cost recovery on energy by December 2025 while maintaining some diesel subsidies. Egypt’s economy faces pressure from reduced Suez Canal revenues, declining gas production, and a dollar shortage. The government still spends nearly 10 billion pounds monthly on fuel subsidies, despite multiple price hikes since 2024.