Spike in fuel prices not to make food costlier: Cairo Chamber

Share
1 min read
A woman holding her baby shops at a vegetable market amid the coronavirus disease (COVID-19) pandemic in Cairo, Egypt February 25, 2021. REUTERS/Mohamed Abd El Ghany
Share
  • The head of the Consumer Protection Authority warned traders of consequences if prices of food times were raised

  • The price of 92 octane gasoline is now 8 pounds per liter and high-quality 95 octane gasoline is 9 pounds

The recent rise in fuel prices in Egypt will have no impact on the price of bread and other food commodities, nor will it affect the flow of goods, this was stated by the president of the Cairo Chamber of Commerce Ibrahim Al-Arabi on Saturday.

Al-Arabi said the decision of the Fuel Automatic Pricing Committee, which is concerned with following up and implementing the mechanisms of applying automatic pricing for petroleum products every quarter, recommended adjusting the selling price of the three types of gasoline products, starting Friday morning, raising prices by 25 piasters ($0.016), with the price of a liter of 80 octane gasoline rising to 6.75 Egyptian pounds ($0.43). The price of 92 octane gasoline is now 8 pounds per liter and high-quality 95 octane gasoline is 9 pounds.

The committee’s decision was based on the extreme fluctuation in global prices, mainly because of the economic effects of the coronavirus disease pandemic and production cuts.

Ayman Hossam El-Din, head of the Consumer Protection Authority, warned that its inspectors would deal with those who raised any prices, whether for foodstuffs or transportation costs.

 

SPEEDREAD


Today's Headlines

The most important news stories of the day, curated by Post editors and delivered every morning.

Google reCaptcha: Invalid site key.

By signing up you agree to our Terms of Use and Privacy Policy.

MORE FROM THE POST