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Egypt Freezes Fuel Prices For One Year After Fresh Hike Amid IMF Reforms

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The Egyptian government has announced a one-year freeze on domestic fuel prices following another increase in petroleum product costs, as part of ongoing economic reforms supported by the International Monetary Fund (IMF).

In a statement on Friday, the Petroleum Ministry said prices of various fuel products were raised by between 10.5% and 12.9%, marking the second increase this year.

The government said the decision to freeze prices afterward was aimed at stabilising the economy and protecting citizens from further inflationary shocks.

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The latest adjustment, published in Egypt’s official gazette, reflects the government’s efforts to gradually reduce energy subsidies and bring domestic prices closer to global market levels.

Under the new rates, diesel prices used widely in transportation and agriculture rose by 2 Egyptian pounds, moving from 15.50 to 17.50 pounds per litre.

Prices for gasoline also climbed depending on grade:

  • 80 octane increased to 17.75 pounds per litre,
  • 92 octane rose to 19.25 pounds, and
  • 95 octane reached 21 pounds per litre.

The government said it will continue to subsidize diesel, even if that requires raising prices of other fuels above cost, to balance fiscal demands.

Egypt’s fuel price reform comes as part of an $8 billion IMF loan programme, which requires Cairo to phase out fuel, electricity, and food subsidies while expanding social safety nets to protect low-income households.

In March, the IMF noted that Egypt remained committed to aligning domestic energy prices with real costs by December, a move seen as critical to reducing the country’s widening current account deficit.

According to the Central Bank of Egypt, the deficit stood at $2.2 billion in the second quarter of 2025, while oil product imports rose to $500 million, up from $400 million a year earlier.

The freeze, expected to last until late 2026, is part of a broader government effort to balance fiscal discipline with social stability amid high inflation and a depreciating local currency.

Officials hope the move will help restore confidence and contain further price volatility in the energy sector.

Exchange Rate: $1 = 47.55 Egyptian pounds

 

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International News

Why UK Is Moving to Restrict Children’s Access to Social Media

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The United Kingdom is considering sweeping new restrictions that could limit or completely block children under the age of 16 from accessing social media platforms, as part of a broader push to improve online safety and reduce excessive screen time among young users.

The proposal, currently under government consultation, is being led by Prime Minister Keir Starmer and focuses on addressing concerns over how teenagers interact with platforms such as Instagram and TikTok.

ALSO READ: UK Says ‘No Entry’ to Kanye West Ahead of Big Comeback Show

Officials say the move is driven by growing evidence and public concern that algorithm-driven feeds and “endless scrolling” features may be negatively affecting children’s sleep patterns, concentration levels, and overall well-being.

The government is also reviewing whether additional measures such as app curfews and time limits should be introduced.

Technology Secretary Liz Kendall said the consultation has already attracted widespread public input, with tens of thousands of responses from parents, teenagers, and advocacy groups.

She noted that the government is particularly interested in feedback on addictive platform design features and the use of AI tools targeting younger users.

The UK is also studying policies already implemented in other countries. Australia has introduced stricter age-based restrictions, while Greece and Indonesia have also moved toward tighter regulation of children’s access to social media.

Authorities emphasize that no final decision has been made, but the consultation process is expected to shape future legislation on how tech companies operate and how young users are protected online in the digital age.

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International News

You Won’t Believe What Trump Said About Pope Leo

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U.S. President Donald Trump has sparked global reactions following his remarks about Pope Leo XIV after the Pope’s recent anti-war message calling for peace in conflict-hit regions.

The controversy began after Pope Leo XIV delivered a strong appeal at the Vatican, urging world leaders to end ongoing wars and prioritise dialogue over violenceviolence.

ALSO READ: Melania Trump to Preside Over UN Council as Middle East Burns

The pontiff warned against the “idolatry of power” and called for global cooperation to restore peace.

Reacting to the message, Trump told reporters he is “not a big fan” of Pope Leo XIV, describing him as “very liberal” and questioning his views on crime and international security.

The U.S. President further criticised the Pope’s stance on global conflicts, suggesting his message overlooks serious security challenges linked to rising geopolitical tensions, including nuclear concerns.

In a follow-up post on Truth Social, Trump intensified his criticism, accusing the Pope of taking a weak position on foreign policy matters and suggesting political factors influenced his leadership position.

The comments have since triggered widespread debate across political and religious circles, adding to ongoing tensions between Washington and the Vatican over issues such as immigration policy, military action, and global diplomacy.

While both sides have previously denied any formal rift, the latest exchange has renewed global attention on their differing positions regarding war and peace efforts.

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International News

Israel Says Slain Al Jazeera Journalist Was Hamas Operative

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The Israeli military said on Thursday that Mohammed Wishah, an Al Jazeera journalist killed in a strike in Gaza on Wednesday, was a Hamas operative “operating under the guise of a journalist.”

According to Israeli forces, Wishah was “a key terrorist in Hamas’ rocket and weapons production headquarters” and had been planning attacks against soldiers in the area.

The military said he used his journalist identity to advance Hamas’ operations against Israel.

ALSO SEE: Israel Kills Iran Intel Chief, Tehran Threatens Retaliation

Al Jazeera, the Qatar-based broadcaster, strongly condemned the killing. In a statement, the network described the attack as a “heinous crime of targeting and killing” its correspondent and insisted the strike was deliberate, not accidental.

The channel vowed to pursue “all necessary legal action to prosecute those responsible for the killing of its correspondents and staff in Gaza.”

Media rights organization Reporters Without Borders also condemned the incident, stating that Wishah’s name now joins “more than 220 journalists killed in two and a half years by Israeli forces in Gaza, at least 70 of whom were killed while performing their duties.”

The killing occurred despite a US-backed ceasefire in Gaza that has been in effect since October 2025, highlighting ongoing tensions and frequent accusations of truce violations by both Israel and Hamas.

Al Jazeera listed Wishah among 11 of its journalists killed in Gaza since the October 7, 2023, Hamas attack on southern Israel that triggered the Gaza war.

Past incidents include the killing of Mohammad Salama in August 2025 and the deaths of four Al Jazeera staff and two freelancers outside Al-Shifa hospital in Gaza City earlier that year, prompting widespread condemnation.

 

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