Egypt

Egyptian Fuel Exports Grew to $1.24 Billion

Published on : 2022-04-18

Egypt’s exports of fuel rose in January to about $1.24 billion, compared to $693 million in January 2021, an increase of 79.7%, or about $552 million.

According to the data of the Central Agency for Public Mobilization and Statistics, crude oil exports rose to $278 million, compared to $167 million, during the comparison period, an increase of $111 million, equivalent to 66.5%.

As for petroleum products exports, they amounted to about $885 million, compared to $427 million, an increase of 107%, and amounted to about $457 million.

As for coal of all kinds, its exports amounted to about $639,000 during January 2022, compared to $2.3 million in January 2021, a decline of $1.69 billion, equivalent to -72%.

The Petroleum Products Automatic Pricing Committee, which is concerned with following up and implementing mechanisms for applying automatic pricing for petroleum products on a quarterly basis, decided last Friday to increase gasoline prices.

The selling price of gasoline products of all three types has been adjusted as of nine in the morning. Gasoline prices have been increased as follows: EGP 7.50 for gasoline 80, EGP 8.75 for 92 gasoline and 9.75 pounds for 95 gasoline, and the price of diesel was fixed at EGP 6.75 per liter.

The price of a ton of diesel fuel supplied to the rest of the industries was also increased by EGP 400, bringing the price of a ton of diesel to EGP 4,600, and the price of diesel supplied to the food and electricity industries remained stable.

The increase came in the committee’s meeting held after the end of last March, recommending amending the current prices prevailing in the local market for the April/June 2022 quarter.

Global oil prices rose during the last period, and the price of Brent crude futures, the standard for June delivery, rose by 6.2%, or $6.16, to settle at $104.64 a barrel.

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