Egypt raises petrol, diesel prices for third time this year

Egypt raised prices on a wide range of fuel products early on Friday, the petroleum ministry said, marking the third such increase this year.Prices for diesel, one of the most commonly used fuels in the country, were raised by 17% to 13.50 Egyptian pounds (R4.87) per litre from 11.50 pounds (R4.15). Petrol prices increased by 11% to 13% depending on the grade, with 80 octane rising to 13.75 pounds (R4.96), 92 octane to 15.25 pounds (R5.50), and 95 octane to 17 pounds (R6.14).Prime minister Mostafa Madbouly said in July prices of petroleum products will gradually increase until the…