No Fuel Price Hikes in Egypt Until October 2026

uel prices in Egypt will remain unchanged until October 2026, Petroleum and Mineral Resources Minister Karim Badawi announced, offering reassurance on retail pricing while outlining the country’s gas supply mix and upcoming investments in the energy sector.

According to the minister, Egypt is maintaining stability in gas supplies through a combination of domestic production, regasification vessels and regional pipeline infrastructure. He noted that locally produced gas is the least costly option, followed by pipeline imports, while regasified gas remains the most expensive source. Egypt currently covers around 72% of its gasoline consumption and 55% of its diesel needs through local production, with plans in place to raise those shares in the period ahead.

He also announced that four new exploration areas in the Red Sea are set to open as part of efforts to expand upstream activity. Badawi said most outstanding dues to foreign partners in the petroleum and gas sector have now been settled, a step he linked to renewed investment momentum.

He added that Apache is preparing to expand its gas investments in the Western Desert following recent pricing adjustments. Looking ahead, the minister cited planned investments of around USD 8 billion by Eni over the next five years, alongside a further USD 3.5 billion expected from ADNOC and BP.

Egypt continues to move forward with reforms under the Extended Fund Facility loan programme, which provides USD 8 billion to support economic and structural changes, including a gradual and transparent phase-out of fuel subsidies to reduce untargeted spending and strengthen social protection.

On regional gas arrangements, Badawi said roughly one billion cubic feet of gas currently flows through pipelines from Israeli fields, a volume that does not meet the bulk of Egypt’s needs. He said additional pipeline connections linking Egypt with Israel and Cyprus, alongside regasification ships, help ensure supply continuity.

Addressing the 2019 gas agreement, the minister described it as a commercial deal involving US-based Chevron alongside Egyptian and Israeli companies, stressing that it is not a political arrangement and that Egypt can rely on its own resources, with gas supplies unable to be used as leverage against the country.