Egypt raises fuel prices for the second time in 3 months

The Egyptian government decided to raise fuel prices for the second time in 3 months.

The Egyptian Ministry of Petroleum announced an increase in fuel prices, as the Automatic Fuel Pricing Committee decided to raise the prices of gasoline and diesel by 25 piasters, adding that the new prices will start working as of Friday.

From the decision to raise gasoline prices

The ministry decided to amend the selling price of all three types of gasoline products, as of nine o’clock on Friday morning, which are: 7 pounds per liter of petrol 80, 8.25 pounds per liter of 92nd gasoline, and 9.25 pounds per liter of gasoline 95, and the increase in diesel came by 25 piasters, to reach 7 pounds. .

The ministry decided to set the selling price for a cubic meter of compressed natural gas used as fuel for cars at the catering station at 375 piasters for normal specifications.

Last July, the government decided to raise fuel prices as well, by 25 piasters per liter.

It is the third Friday increase 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.

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