Many people wonder about the reasons that push the government to move diesel priceAfter recommending an amendment to the current prices prevailing in the local market.
The reasons for the state raising the price of diesel came, first, because of the rise in oil prices in the entire world very quickly and greatly, to the extent that it reached 120 dollars a barrel at some times last year, after its price was 60 and 70 dollars as a result of the war that erupted between Russia and Ukraine.
Despite the rise in prices globally, the state did not tend to reduce subsidies, but rather raised its support for petroleum products by more than 10 billion pounds, reaching 28 billion pounds, after it was 18.4 billion pounds last year, and this reveals the increase in prices globally.
And the Egyptian state maintained its support for the price of diesel, to fix its price for more than 30 months without any change, despite its increase in the world by more than double, but with the transformation of the exceptional situation in Russia and Ukraine to a normal situation, this will continue with us for long periods, and the state had to To move the price so that the price of diesel does not affect other types of support, such as support for social housing, food supplies, soft loans, treatment at state expense and other forms of state support.
Despite the global crises, the Egyptian state did not reduce subsidies for petroleum products, but rather increased subsidies in the public budget until the increase during the current year alone reached from 30 billion pounds.