The Egyptian Ministry of Petroleum said today, Friday, that it has raised… Gasoline prices 0.25 pounds in a quarterly review, with the price of diesel fixed.
The Ministry’s Automatic Pricing Committee for Petroleum Products decided to raise the prices of 80-octane, 92-octane and 95-octane gasoline to 7.50 pounds ($0.4087) per liter, 8.75 pounds per liter and 9.75 pounds, respectively, as of today.
And diesel will continue to be sold at 6.75 pounds per liter.
The price of a ton of diesel fuel supplied to the rest of the industries was increased by 400 pounds, bringing the price of a ton to 4,600 pounds, with the prices of diesel supplied to the food and electricity industries.
The increase is the fifth since the pricing committee was established in October 2019 following the completion of economic reforms and the gradual end of subsidies on fuel products under an IMF-backed reform program.
The Fuel Pricing Committee, which includes representatives of the Ministries of Petroleum and Finance, relies in its decision on measuring the level of international oil prices, exchange rates, transportation, operating and production costs, and meets quarterly to review fuel prices, move them up or down by 10%, or stabilize them.
