A worker holds up a fuel pump nozzle after filling up the tank of a car at a petrol station in Cairo
Egypt’s Fuel Automatic Pricing Committee increased the prices of fuel in the local market for the second time this year by 25 piastres per litre, the Ministry of Petroleum announced on Friday.
The new prices are EGP 6.75 for 80 octane gasoline, EGP 8 for 92 octane gasoline, and EGP 9 for 95 octane gasoline.
The price of industrial-use Mazut remains at EGP 3,900 per ton and diesel fuel at EGP 6.75 per litre.
This is the second time in 2021 the prices of gasoline increase in Egypt.
In April, the committee increased gasoline prices by 25 piastres per litre as part of the committee’s implementation of the automatic pricing of petroleum products mechanism on a quarterly basis.
The average prices of brent crude in the global market and the exchange rate of the US dollar against the Egyptian pound for the period April/June 2021 are considered the most important determinant and influencers of the cost to provide and sell oil products in local markets, according to the Fuel Automatic Pricing Committee.
The petroleum ministry stated on Friday that the decision was made in light of the impact of the coronavirus pandemic on a global level.