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Economy, Energy

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Egypt raises fuel prices in quarterly review

Egypt raises fuel prices in quarterly review due to the global rise in oil prices.
By TRENDS Desk
July 14, 2022 8:18 am
  • The country raised the price of a litre of 80-octance gasoline from EGP7.5 to EGP8 (US$0.424), a litre of 92-octance from EGP8.75 to EGP9.25 (US$0.49)
  • The fuel committee convenes on a quarterly basis to assess the prices of petroleum products and amends them in accordance with the international price of Brent crude oil

Egypt’s Fuel Automatic Pricing Committee (FAPC) raised on Wednesday fuel prices for various octanes by EGP0.5 to EGP1 per litre, due to the global rise in oil prices. However, they kept the price of diesel for electricity and food industries fixed for the third quarter of the year.

The FAPC raised the price of a litre of 80-octance gasoline from EGP7.5 to EGP8 (US$0.424), a litre of 92-octance from EGP8.75 to EGP9.25 (US$0.49), and a litre of 95-octance from EGP9.75 to EGP10.75 (US$0.57), according to a statement by the Ministry of Petroleum and Mineral Resources.

The price of diesel and kerosine also rose from EGP6.75 to EGP7.25 per litre.

The fuel committee convenes on a quarterly basis to assess the prices of petroleum products and amends them in accordance with the international price of Brent crude oil and the price of the dollar against the Egyptian pound.

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