Spokesman for the Ministry of Petroleum Hamdy Abdel Aziz said Egypt has the lowest prices of gasoline in the region, noting that the current prices cover the costs only.
Speaking to Sada Al Balad TV channel, he reiterated on Saturday that attention has been paid to social conditions before imposing the new 25-piaster rise of gasoline prices to avoid any inflation or price rises.
Abdel Aziz explained that diesel prices have not been increased because any price rises can affect public transport fares and the costs of goods transportation.
The Ministry of Petroleum on Friday set the price of 92 octane gasoline at EGP 8.25 per liter and 95 octane gasoline at EGP 9.25 per liter.
As per the decision, the new price of 80 octane gasoline is set at EGP 7 EGP per liter.
The new prices have come into effect as of Friday morning.