CAIRO – October 22, 2022 According to a quarterly evaluation released on Saturday by Egypt’s Fuel Automatic Pricing Committee, the country will maintain its current gasoline and diesel prices for the ensuing three months.
According to the committee’s decision, the cost of 80-octane gasoline will remain maintained at LE 8 per litre, while the costs of 92- and 95-octane gasoline will remain fixed at LE 9.25 and LE 10.75 per litre, respectively.
The cost of diesel will not change from $7.
25 cents per litre, while mazut will continue to cost EGP 5,000 per tonne for non-electric consumption.
According to the statement, the committee’s decision was reached after considering the currency rate and the influence that the Russia-Ukraine situation had on the oil market and how it affected the price of Brent crude.
Three months have passed since Egypt increased the cost of gasoline for various octanes by up to EGP 1 per litre.
The price of gasoline for different octanes was increased on Wednesday by up to EGP 1 per litre by Egypt’s Fuel Automatic Pricing Committee (FAPC), the highest increase in years.
For the first time in more than two years, diesel prices were also increased in the nation in July.
In response to the decision, Prime Minister Mostafa Madbouli stated in a press conference that the government’s yearly subsidies for diesel had dropped from LE 63 billion to LE 55 billion.
The government said July decision seeks to protect the petroleum resources in Egypt and ensure that the general budget does not bear further burdens in order for the state to be able to counter inflation resulting from the Ukraine crisis..
Egypt maintains the same pricing for gasoline and diesel in its quarterly review.
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