Egypt

Egypt keeps domestic fuel prices unchanged till end of December

Published on : 2022-10-23

Egypt’s Fuel Automatic Pricing Committee decided on Saturday to keep fuel prices nationwide unchanged till the end of December after raising it last July.

The price of 80-octane fuel will remain at EGP 8, while 92-octane fuel will be sold at EGP 9.25, and 95-octane fuel will cost EGP 10.75.

The price of diesel will be EGP 7.25, while the industrial-use mazut will be EGP 5,000 per tonne.

Egypt’s Fuel Automatic Pricing Committee raised in July fuel prices for various octanes by EGP 0.5 to EGP 1 per litre, keeping the price of mazut for electricity and food industries fixed, for the third quarter of the year

Egypt started implementing a quarterly price index mechanism on all petroleum products in July 2019, exempting gas stoves, the electricity sector, and bakeries from the mechanism.

The mechanism of automatic pricing involves amending the prices of petroleum products quarterly, as it should not increase or decrease by more than 10 percent, in accordance with the international price of Brent crude oil and the price of the dollar against the Egyptian pound.

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